I want to post every day, but not all days I have the opportunity to watch the market all day and do analysis in time. But in order to keep the daily rhythm, I will try to get into the movement, even if it is late.
Yesterday I wrote that the market is not ready to make a impulse yet and will trade within the intraday balance. I marked the balance with an orange rectangle. And so it happened. At the beginning of last day the market seemed to me quite weak, so I expected a rotation closer to the bottom of this balance. But I specified that if the green level of 1.2127 would be held and the POC of the previous day would not be held, then we could talk about growth.
As a result this scenario has materialized, the price has clearly held 1.2127 and went up, without holding the POC of the previous day. I recommended to sell from 1.2157 with the price target of 30 pips, but the price went a little bit higher and sold from 1.2167, exactly the same 30 pips. At the same time, the POC has consolidated only from the top, which tells about the strength of the buyers.
As a result, we had a good prerequisite for the next day (today), but unfortunately I woke up late and we missed the trades, though the price is moving very well. In this situation, the only thing left is to watch and maybe to short from 1.2237, where the target depends on the sales volume at this level and where the nearest thin support is. Therefore, for those who are not confident, I advise to close the deal with a profit of 20 pips. And experienced after the turn down from 1.2237 can look for purchases from this thin support with the target 1.2233.