EURUSD Daily Bias
Description: EURUSD is exhibiting a bearish structure on the daily timeframe, indicating a move from internal liquidity (IRL) to sell side external liquidity (ERL/SSL).
Analysis:
Market Structure: Price is respecting a bearish trend, with lower highs and lower lows forming. A recent liquidity grab from internal liquidity suggests further downside movement.
Liquidity Considerations: Internal liquidity (IRL) has been taken, with sell-side liquidity building below key lows. External liquidity (ERL) at lower levels may act as the next target.
Key Levels: Monitor previous support zones, imbalance areas, and liquidity pools for potential reaction points.
Trade Confirmation: Look for bearish rejections, supply zone retests, or institutional candle confirmations before entering a short position.
Trading Plan:
Entry: On a retracement to a premium level or a key resistance zone.
Stop Loss: Above recent swing highs or supply zones.
Take Profit: Target external liquidity levels below, aligning with market structure.
Risk Management: Always use proper risk management, adjusting position sizes accordingly to mitigate potential losses. Stay updated with macroeconomic factors that may impact EURUSD volatility.
Analysis:
Market Structure: Price is respecting a bearish trend, with lower highs and lower lows forming. A recent liquidity grab from internal liquidity suggests further downside movement.
Liquidity Considerations: Internal liquidity (IRL) has been taken, with sell-side liquidity building below key lows. External liquidity (ERL) at lower levels may act as the next target.
Key Levels: Monitor previous support zones, imbalance areas, and liquidity pools for potential reaction points.
Trade Confirmation: Look for bearish rejections, supply zone retests, or institutional candle confirmations before entering a short position.
Trading Plan:
Entry: On a retracement to a premium level or a key resistance zone.
Stop Loss: Above recent swing highs or supply zones.
Take Profit: Target external liquidity levels below, aligning with market structure.
Risk Management: Always use proper risk management, adjusting position sizes accordingly to mitigate potential losses. Stay updated with macroeconomic factors that may impact EURUSD volatility.
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