Probability is for Scenario 1.
By Wednesday NY Open: Price to have reached 1.5350
A Bullish run to 1.5350 if Price Action reveals confidence.
The Sunday open should not show signs of breaking and holding below Friday's Low.
We should break the highs of downward accumulation with confidence, not just touches and retraces (that could signify Stop Hunting and Scenario 2 downside).
This is because we have buyers now underwater and previous bearish order blocks now needing to be closed.
We do have a higher order block of 1.5510 - we "could" see price extend to, but after price reaches 1.5350 we should remain on the sidelines for further indication of new order blocks.
Scenario 2.
If Sunday open shows closes and intention of downside below Friday's low we can expect expansion of the downside to be capped at around the 1.50s
By Wednesday NY Open: Price to have reached 1.5350
A Bullish run to 1.5350 if Price Action reveals confidence.
The Sunday open should not show signs of breaking and holding below Friday's Low.
We should break the highs of downward accumulation with confidence, not just touches and retraces (that could signify Stop Hunting and Scenario 2 downside).
This is because we have buyers now underwater and previous bearish order blocks now needing to be closed.
We do have a higher order block of 1.5510 - we "could" see price extend to, but after price reaches 1.5350 we should remain on the sidelines for further indication of new order blocks.
Scenario 2.
If Sunday open shows closes and intention of downside below Friday's low we can expect expansion of the downside to be capped at around the 1.50s
