I might get this wrong. BUt who knows I might get it right as well. It is brought to my attention , we are in a Weekly Demand level. ( Weekly Chart. ) But it has not ( price ) acting accordingly meaning not bouncing off this bigger time frame level. USD index is almost passing off from its supply level. SO meaning we might have some room for it to move down further from the current price level.
But to sell something at the lower curve of the bigger time frame, and probably at a stage 3 down trend level already, its a bit riskier to sell. BUt to squeeze some if any might do the trick.
On the 15 min chart. I am looking at a supply level that was off the NFP last week. Such a strong sell and imbalance there. Some of my colleagues suggesting a liquidity run ( whatever that means ).
I am correlating it with the USD index this time and also this time I am using candlestick chart so that everyone can see it rather than from my Point of Figure chart. And its pretty common that most people are using candlestick chart.
Here is what the USD index looks like. also might approach its demand at the same time approaching supply.
My plan is
SELL limit at 1.30828
TP 1.30406 or 10 pips if you wish 🙂
If that USD index reach its demand at the same time supply is hit, that brings the odds in our favour!
Good hunting out there!