EURUSD: THE DAILY ANALYSIS
RETAIL ANALYSIS WITHOUT SMC:
1. the market has been in a channel and had made a breakout indicating bullish nature
2. but the market has not made a higher high and it has actually made a double top just below a strong high where the bears were sitting
3. and the market has then broken below the neckline for the double top
4. now the market can either take liquidity from the bears as they would have taken entry at the break in neckline, trap them and then go long
"OR"
The market could have already trapped the bulls and aimed for bearish movement
NOW HOW DO WE FIND WHAT IS IT GOING TO FAVOUR:
use the 1 hour time frame which is the lower time frame and follow the trend there and look for change of character in that time frame to go long or else just continue with the bearish momentum until there is a change of character in the 1 hour
1. the market has been in a channel and had made a breakout indicating bullish nature
2. but the market has not made a higher high and it has actually made a double top just below a strong high where the bears were sitting
3. and the market has then broken below the neckline for the double top
4. now the market can either take liquidity from the bears as they would have taken entry at the break in neckline, trap them and then go long
"OR"
The market could have already trapped the bulls and aimed for bearish movement
NOW HOW DO WE FIND WHAT IS IT GOING TO FAVOUR:
use the 1 hour time frame which is the lower time frame and follow the trend there and look for change of character in that time frame to go long or else just continue with the bearish momentum until there is a change of character in the 1 hour
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