Good morning, traders. For the convenience and speed of reading, I will try to transform my posts and structure them so that you will feel most comfortable reading them.
Last day’s results.
The market, as always, very accurately implemented the scenario we had outlined.
Yesterday I wrote:
“The potential for a move down accumulated at the top of the balance sheet has not yet been realized, moreover locally and even more so globally there have been no critical signs of a reversal yet.
To buy now precisely it is impossible. I expect fall further, at least to 1.1775 and further.”.
That’s exactly what happened. The price fell to our target, even 10 pips lower.
Fixing the situation.
There was some serious volume at 1.1775 below and an equally serious reaction followed, which created a new intraday balance of 1.1765–1.1820, within which we will be moving in the near future. That does not mean that we have to reach the lower boundary of the balance now, then the upper boundary, etc., just that it is a price range that we are paying attention to now with its structure inside.
On the upside there was also serious volume and as I wrote yesterday, the potential for a move down is not globally exhausted and even after yesterday’s move up, there were no critical signs of a reversal. For now we continue falling down to the levels in the zone of the lower boundary of the balance, and there will be seen the reaction, how far up the price will go within the balance after that.
As there is a strong pressure from the sellers of a more global order than intraday, it is a bit dangerous to give buy signals, though we are in the balance and taking into account its current stage, it is possible to buy below the balance.
Sell at 1.18 with a target of 1.1775
Buy at 1.1775 and buy at 1.1765 with a target of 1.18