This is a follow-up in yesterday’s trade results. Unfortunately, our sell stop loss got hit before price moved lower. I should have adjusted my stop to the high of the 4H displacement candle I mentioned yesterday which could have given me enough room.

https://www.finlogix.com/analysis/20240124/eurusd-intraday-analysis-and-trading-plan-for-january-24-2024

Anyways, let’s move on to our next plan for the day.

Let me update first the higher timeframe candlesticks patterns:

Yearly Candle: Small Red Body With Short Lower Tail Wick

Monthly Candle: Small Red Body With Short Lower Tail Wick

Daily Candle (Previous Close): Green Long Upper Shadow

I’ve updated the yearly and monthly candles by adding lower tail wicks with almost invisible head wicks which can be ignored. The weekly candle however, has changed from Red Spinning Top to a slightly Red Doji. The updated candlestick continues to tell us that for this week, there were active sellers and buyers in the EURUSD markets. Yesterday’s daily candle closed in green, evolved from a Red Large Spinning Top to a Green Long Upper Shadow suggesting us buyers were stronger.

Zooming out to the 4H view, EURUSD has formed a new bullish 4H FVG structure even after a strong pullback from yesterday’s swing high which failed to create a higher FVG in 1.0930-1.0960.

At the time of writing, EURUSD price is hovering inside the 4H bearish FVG I pointed out yesterday and the newly built 4H FVG. This is getting very interesting to see because these 2 FVGs now became our immediate support levels for the day and the remainder of this week’s trading sessions.

I want to go long intraday entering at any price now. My buy stop loss is just a little below from the candle that started the new bullish 4H FVG. If bulls confirmed a break-out ahead, my take profit will be a possible lower high based on yesterday’s swing high levels.

EURUSD Intraday Analysis and Trading Plan For January 25, 2024

Jan 25 2024

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