Alright let’s talk about the most traded pair the ppl over Analysis and miss the simplicity of this pair with no nonsense

So what’s going on here is nothing worth the detail ppl put into this pair cus the price action is easy to digest

we have is a big market Correction. A W on the higher timeframe as most traders are taught to use the lower timeframe but by doing so put u at a disadvantage that is unforgivable. It’s like buying a house on a block and only looking at the house as a reason to buy. So what about the neighborhood.? What’s in the local area? These are questions and an outlook one must apply to trading to make the best decision

So let’s carry on

We have a classic W n how to trade a w or m We wait for price to make the last leg with a moving average support as we see here in fact we see the blue 200ma Supporting price as this maybe the last 200ma pull back on the weekly and the 50ma (orange)takes price higher
But the rule we wait for a ma support this is our entry but since this move already played out , the next entry is the safest and this is the break of the necktie (the crease) where each leg meets in the center.
So we wait for price to break low before it hits the necktie as they always will fake the move before they move price across key support.
We look for this low rejection on the 4hr and then enter on the 15min when price becomes bullish .
Now as price rise we can cash n and out as price pulls back to the 50ma on the higher timeframes.

As price goes up to make a real high.
Read my other post to know what is a real high or low and how the market test these areas
Then we can anticipated a deep pullback or reversal .