I'm still bearish but of course retracements to the upside are normal in the market's quest for liquidity. I have marked the points that I am waiting for reactions with path tools. There is a high impact data release for GBP late this morning which could affect the Euro and some USD news early in the NY session to be aware of. Wishing you all a good trading day
Not the best price action at all. I may decide to sit London out and wait for NY but there is high impact data releases at 15:00 UTC so the market could range up to that point with indecision. I'll keep my movements posted below
I think the overall mood is bearish but we may be looking at some upside before the downward move
Although the M15 order flow is bullish right now I do think that the sell pressure will push us down to rebalance last week's bullish H4 leg. I have marked out the areas that I will be expecting a reaction and looking for my confirmations
Happy Thanksgiving! I am not expecting a lot from the New York session, today but I have marked out the zones I expect a reaction from. I have my alerts set and if I get the ping I will be here looking for the lower time frame confirmations.
I expect the H4 high to hold since price has not come from a strong demand zone. Liquidity is being engineered for the weekly supply above where I expect. massive sell pressure. For now, though, I'll be riding the H4 order flow in the M5/M15 swings
Still following the idea I laid out earlier in the week. I closed my position after Powell's speech, yesterday because the spread on some of my accounts is not rollover friendly. I am waiting for this H4 demand to validate then will be looking for longs up to the major H4 demand pointed out previously. High impact news during NY so the major moves could be after then
I am still on with the same idea. Price made a big push yesterday but failed to mitigate the extreme H4 supply. I imagine it will have another attempt, possibly today and possibly after liquidating the orders below and mitigating the internal demand as per my previous idea
I have a lot on this week outside of the markets. This is my thoughts on EU which follow on from last week's idea. I'll be looking for M15 zones to hook in and ride price action when time allows. I'll update below when I'm at the charts and see anything interesting so be sure to subscribe to this idea, below.
I think EU is pushing up to the higher supply zone so I'll be looking for shorts down to the H4 Demand and then longs from there
The H4 major inducement was taken, yesterday, confirming the low. That unmitigated order flow on the H4 also marks the low of a weekly candle that swept liquidity, so I do expect that to get tagged but just above that order flow is an imbalance that can be seen on the daily, which is also prime for a tag. Retracements have been weak and unreliable because of the...
Nothing remotely solid on offer so just loose mark ups for me with no real intention of executing. To earn my time I will need to see a solid move in either direction. Until then I'll just be checking in from time to time
Price action is weak and inconsistent so I have not been giving the markets a lot of attention. As long as we're in this weekly zone, the intraday context is erratic. When the H4 gives me an idea of what to expect, I'll dedicate more time but I prefer the low hanging fruit. Updates will follow when I am satisfied on a direction that will offer some intraday setups
I think we are looking at the daily extreme as a new low so for me it is a case of liquidating the H4 zones above to push us down, it may be that the M15 IDM gives us the opportunity for a short term sell, also. The chart is messy. Red is H4 POIs, green M15 and yellow is daily All of my entries will confirmation entries Wishing you all a good trading week...
So the lower time frames are being ragged around as the higher time frames deal with this crucial zone. I am away tomorrow on the water but we should get some nice movement with all the data coming out, how tradeable it is, is another discussion altogether. I said in my top down analysis that we may need to rebalance the two recent bullish H4 legs before we break...
As big picture at A little bearish move to mitigate the zones, I think we will likely sweep the external liquidity from the M15 range before moving to make a new M15 leg
The multi time frame analysis is in the updates below the main Idea. Since we have flipped bullish on the higher time frames, I'll give my big picture view on EU. I look at the timeframes like a gearbox or transmission. The H4 is a gear that, on one revolution will turn the H1 gear four times and the H1, in turn will turn the M15 four times and so on all the way...
On Friday we made equal lows on the daily/weekly time frame that coincided with the H4 engineered liquidity (1.09446). We are currently in a bounce which I think will serve as the pullback to continue with our bearish move on both the H1 and M15 time frames, breaking structure to the downside in order to tag the H4 engineered liquidity (1.09446) or the H4 extreme...