Market - Trend Analysis on Euro/US Dollar: why the previous losses was a pain to the bulls.

Hello mate,

You can call me "H100X or Honcholini". Allow me to give you some walkthrough on what to watch out in this pair and as we go through, consider using your chart beside you to understand how we move, Okay!

Firstly looking at the $TVC:DXY chart, we can see how the movement of price is headed back down that tells us its dominance on $OANDA:EURUSD(if US dollar falls -EU rises). Got it? Okay.

So we understand where we are going, now heading back to EU chart on the Daily TF. Looking at price movement its on a bear move after reaching its last range high (1.12017). We can see its single body candle on a bearish(1 confirmation). Heading down to the 4HR, we are looking out for its last range low external structure for two basic things.

1) Its Algo structure formation on the 4HR

2) A Liquidity sweep + inducement levels

Zooming out to get the bigger picture, we can see from the external (1.09000) , we can see there is a liquidity sweep formed...mark it out as a support level or what ICT traders call it "Orderblock".

We can also see its bullish movement after the sweep then it reverses to a 50% level(1.10322) and retraced a little before continuing back down.

Here is the hot cake:

Price is currently at the zone, but we cant see anything more so head to the 1HR -zoom out, seeing the inducement level before it retraces that's a clear confirmation of the algo structure been formed. so we should be expecting a bullish movement to the upside because $TVC:DXY is reversing to been bullish again. How then do we take a trade from that zone, marking out the support level at the inducement level --we should know its trade should just give us something of a low probability trade of like 1:3rr or so.

Placing out BUY limit at the support, we head down again to the 5M and wait for price to create something like a "Pullback" candle to the upside. Why? because its our last confirmation to take the trade for a quick 1:3rr before it reverses -- it will definitely come back for that liquidity takeout then bearish till the external. So consider all this through before we proceed with the trade. GOODLUCK and RISK WISELY.