Last week closed below 0525 which was a key level for me so in the coming week I will be looking for reasons for the market to fall toward 0400. I will focus on price action above buy side liquidity pools. As always Monday open is the least predictable price so market open will need to be considered.
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And I know not many of you are following my journaling but if any of you have questions, I will help any way I can.
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Uneventful opening to the week. Monday profile for NY session low probability so engagement not likely.
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No engagement for me today but the price action has me spooked. I don't like how price has delivered into the buy side liquidity pool outside of session. I also don't like how we have traded back to the middle of the range. Waiting for price action to confirm but I am now neutral. Let's see what London sets up.
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Have a little more nasty price action. ugh. That said I do have my eye on 0516 for low and 0563 equal highs. Retail sales at 830am NY. Let's see what happens.
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Very interesting PA today. I was mildly bullish (se previous statements) coming into Ny. London set up to be low of day, and after running Asia highs, price offered a discount on the 830 news. I did participate in the run to the highs so blue on the day. I like price closing above the 0570 level. I would like to see additional bullishness into the 0680 level but will proceed with caution. Range today has seen significant trading so would not be surprised if Asia trends higher. I will wake up for London to see what is unfolding.
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PA not playing fair. Coming into today we are looking at a likely Monday low of week so Thursday NY will cap the range. I could be wrong but do not see prices falling to the low from here. Asia managed a low time frame sell side run then rallied almost 20 pips as we expected. Going to give it a minute. One economic calendar shows EU CPI at 5am which will have some impact on price so if I don't see what I need will check back after that.
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London was not it. Watched PA a couple hours and no engagement. Daily is setting up as a manipulation profile so I am not sure London low will hold price. I hope to see more accumulation going into NY and additional sell side liquidity tagged. If I get a clean market shift after I will engage price. While typing here part A happened (SSL). My line in the sand is Asia Low. I will be neutral if we take that.
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And there it is. Reaction needs to be clear from here for me to remain bullish. Best view is on the 30m chart imo
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Last update before I head to work. Asian range+ London High+ London session closes below Asia low= classic sell day. Not looking good for bullishness. Possible Tues high of week profile in plat if we break structure on the 1h here.
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Well, it is a wrap for me. I don't like how price is trading coming into the end of this week(ranging). We have 2 news drivers tomorrow NY session (830/12pm) and price has not been unidirectional this week, so I do not anticipate a TGIF. I was fortunate to take advantage of Tues/Wed so will end week in the blue but do not have a clear view of weekly close so will chose to not give anything back to the markets. If you are counting, I have had 3 weeks of inaccurate weekly analysis but by being flexible I have managed a good outcome. Proof that analysis is not key to success. Have a good rest of the week.
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24.4 pip London range. I made the right choice sleeping in. Will see what news does today. Hopefully it is the catalyst to get us out of these ranges.
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Today: Asian Range, London Low of day, London take Asia high= classic buy day profile.
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Friday is lower prob usually, but NY session is looking interesting to me. How did Asia trade? How did London trade? Now you know what I am looking for.
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Well, I took my shot and ended week on small loss, but week was blue overall. It's a wrap for me. Will get after them again next week. Good luck.