Bearish Dive on the SHORT Term
This pair has witnessed its own fair share of market ups and downs.
While Price is Bullish on the larger Timeframes of the Monthly, Weekly and Daily, we see it holding a Bearish perspective on the small time frames of the 4 hour as well as the 1 hour.
From our 1 hour chart analysis, we have seen prices come into our zone and from there begin to reverse Bearish. This happened through a period within the hours of 2100, 2300, 0200, 0300 (WAT) 1 hour candles.
If this Bearish perspective holds, prices are expected to dip towards the 1 Hour liquidity target at 1.36697.
On the other hand, a Bullish Reversal is not impossible, especially as we see the larger timeframes showign signs of Bullishness.
Be that as it may, we will not trade the futuristic markets or take trades based on speculations and assumptions. We will limit our trade to the chart analysis, and limit our chart analysis to what the charts currently say. When the chart changes trend, we will follow suit and change trend perspective in line with what the charts are saying at every given point in time.
While Price is Bullish on the larger Timeframes of the Monthly, Weekly and Daily, we see it holding a Bearish perspective on the small time frames of the 4 hour as well as the 1 hour.
From our 1 hour chart analysis, we have seen prices come into our zone and from there begin to reverse Bearish. This happened through a period within the hours of 2100, 2300, 0200, 0300 (WAT) 1 hour candles.
If this Bearish perspective holds, prices are expected to dip towards the 1 Hour liquidity target at 1.36697.
On the other hand, a Bullish Reversal is not impossible, especially as we see the larger timeframes showign signs of Bullishness.
Be that as it may, we will not trade the futuristic markets or take trades based on speculations and assumptions. We will limit our trade to the chart analysis, and limit our chart analysis to what the charts currently say. When the chart changes trend, we will follow suit and change trend perspective in line with what the charts are saying at every given point in time.
Trade closed: target reached:
Market moved according to the prediction we had from our chart analysis. We witnessed prices drop all the way down to our target, give us a secodn trade setup that went to also hit its own liquidity target.
Market moved according to the prediction we had from our chart analysis. We witnessed prices drop all the way down to our target, give us a secodn trade setup that went to also hit its own liquidity target.
Trade closed: stop reached:
After successive trade to liquidity target, the market seems to have lost its Bearish mementum for a bit. This has seen the market take out our zone with a bid to turning Bullish.
For now, we are on a middle course. With the 1 hour reversign Bullish while the 4 hour maintains its Bearish momentum, it is difficult to say whichi direction the market would go for certain.
A second look, not at the charts, but to reservoir of knowledge would reveal that the 1 hour is expected to move in the direction of the 4 hour. And so the 1 hour Bulish impulse is expected to form a retracement for the 4 hour chart, following which the 1 hour impulse will be wiped out by the 4 hour extension.
This is my perspective on this pair
For now, we are on a middle course. With the 1 hour reversign Bullish while the 4 hour maintains its Bearish momentum, it is difficult to say whichi direction the market would go for certain.
A second look, not at the charts, but to reservoir of knowledge would reveal that the 1 hour is expected to move in the direction of the 4 hour. And so the 1 hour Bulish impulse is expected to form a retracement for the 4 hour chart, following which the 1 hour impulse will be wiped out by the 4 hour extension.
This is my perspective on this pair
