This is why we needed that strong close above 1740. The market structure depended on it. We're close to breaking even on the 2nd trade after banking 75% of the trade at 1738

Lets see what reaction we get at 1727

Closed at break even after we banked 75%

Closed in overall profit after hitting the stop

We're going to wait for tomorrow once all the noise has settled before we get back in to a trade. See you all tomorrow

We'll be back for the US session. The 1735-37 level is a level of interest at the moment. Yesterday we wanted a strong close above 1740, today we want to see the mentioned level break for this to continue upwards. The lower levels are 1720, 1710 and 1703.

14:00 GMT today

Hopefully this chart makes sense. This is our plan at the moment. We will update you if it changes.

We're looking for shorts from the 1745-50 level and we're looking to buy from the 1715-10 level....If 1710 breaks we'll wait for it to settle as it can go lower, if 1745 breaks and closes we'll also wait for it to settle.

Right now we're in a tight range on the 4 hour chart. Lower highs and nearly equal lows. The breakout is coming as its compressed enough from what it seems.

We're only scalping at the moment hence we haven't shared our trades.

30M chart is in a small channel with the bottom being around here and the top around 1735.

1H. Again, you can see the formation. We would personally suggest to wait for the breakout unless you're scalping small lots with tight stops.

Levels are on the chart, please add them to your charts. 1727 is crucial at the moment.

Support:
1727
1721
1708
1702

Resistance:
1735
1745
1750-52
1757

Only sign we have at the moment is 4H is bearish and looks like its going to go lower towards that 1720 level. Thats not confirmed yet though so please don't take that as a signal. Something to look out for.

We're back in an hour

We're looking to get in again with a short around the 1732-34 level. Our initial target is 1724 then below that 1721. Tight stop on this one with a small lot.

Stop hit on this

We're going to let it settle and look for another entry

We're going to wait it out at the moment. Let the price settle

Unbelievable 🤷‍♂️

Still stuck in this tight range even after yesterdays shakeout. Was a classic retest of the trend and sharp rejection. We want to see one of these levels break 1735-40 or 1726-20. Price is accumulating inside what is potentially a descending triangle .

We're sitting on the sidelines at the moment waiting for this sideways movement to end before we get in to a trade. Our bias is still bearish but we want to get a good entry for the short. 1710 levels are sticking out to us so lets wait and see.