EUR/USD Before & After 4 Hour Time Frame Thesis



Repost from Instagram 8-30-18

Shoutout to all the legends who took this setup I posted the other day 💥As shown in the previous setup, structure needed to move in the following way to see a continuation of EURUSD’s bullish momentum👇⠀

1. Break out of the short term descending trend (Giving us indication this short term bullish momentum is continuing)⠀ 2. Validate higher highs have been made (Indicating to us that this bullish momentum is becoming more confirmed)⠀ 3. Create a short term continuation pattern (Indicating to us a potential higher low is forming + telling us liquidation is occurring for further continuation of this bullish trend)⠀ 4. Break out of the short term continuation pattern (Creating short term higher highs + indicating to us that markets momentum is continuing as bullish)⠀ 5. Retest the previous broken level or trend and closing above (Confirming to us market momentum should push in the direction that we seek⠀ 6. Our end target area for this trade setup was only to the weekly resistance due to the facts down below 👇⠀

6a. Markets momentum (bullish) is in a liquidated state due to the initial impulse (bearish and daily momentum being bearish) therefore risk is warranted as moderate/higher⠀ 6b. Structure just previously broke out of the descending trend which doesn’t completely validate a bullish trend yet as another trend cycle is needed to form to confirm to us that the bearish momentum is in fact invalid⠀ 6c. Our end target was the weekly resistance due to the fact that the 1.17284 (Weekly Resistance) was a very guarded area by the bears in which we knew pending orders would be sitting there. Therefore, we would concluded that the most optimal area to close would be at the weekly resistance and if price surges through, we will take the continuation of that impulse or if price rejects, we will simply reassess.⠀

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