EURUSD - Selling initiative from Tuesday was completely eliminated after release of CPI from Eurozone. After this macro news release, price tested below 2 week trading range and showed strong reaction of buyers which was followed by buying initiative.
My view at EURUSD is bullish and I wait for signals to enter into long trade(s).
EURUSD - The lower singles area from my last post provided support after initial Friday selloff, after 8:30 macro news. I was waiting for my entry signal to long trade but did not get it.
However the growth later in the afternoon has surprised me. I was expecting double distribution profile to form.
Technically all is still in favor for further growth. I still wait for pullbacks and entry signals into long trades, but I will only take signals from lower time frames (1h -4h) to keep my risk low since there will be ECB press conference on Thursday and it could bring surprising move to downside.
EURUSD - we had untypical day on EURUSD yesterday - very narrow range and low volume traded.
Today, after morning macro news from Europe the expected move to the upside came. Since there was no pullback I could not enter into a long trade.
At the moment market sits on very important resistence (wVAH). If price moves through this resistence I expect test of yearly highs. I still wait for pullback to enter into long trade.
EURUSD - We got the test of yearly high about which I was writing about for last few days. I was able to take a long trade yesterday morning, but got rid of it before ECB rate decision.
After Draghi´s comment about FX rates there was strong sell action on very high volume. This was the strongest sign of sellers I have seen since 27.12.2013. I was able to open short trade from 1,3872 and took 14 pips of profit.
I have short bias and wait for short signals in 2 solid resistences from the attached picture.
EURUSD - On Friday the selloff continued. I did not expect it that strong. I tried to take a long trade 1,3788 but ended with a loss.
For today I expect calming after 2 day selloff and sideways rotation. I took a long trade this morning with which I target into resistence zones from attached picture.
If I get a signal for short trade in the resistence I will trade to the short side.
EURUSD - Market indeed calmed down yesterday in line with my expectations. 3 TPO ledge has formed at yesterday´s high and I was expecting a test above so I held on my long position. That test did not come.
I have closed the position a while ago. We have important macro news coming out at 11:00 and I do not want to hold position into the news and the market shows no strength to upside.
The ledge is still good candidate for test. It could come with the news release, but I do not want to gamble on the news.
I will wait in resistences for short opportunities.
EURUSD - Yesterday´s macro news release caused dowside move. But the decisive break came just after 12:00. I suspect it were the longs who accumulated positions during Monday and dumped their inventory.
After the break I was expecting a move to 1,3700 area, which happened. I took some long trades there and got profit this morning. I also took some longs this morning and got small profit.
For today I see 1,3700 area as important. It must hold and I will stay more bullish in short term and wait for new opportunities to enter into long trade.
EURUSD - Yesterday´s US session was dead. No trading opportunities.
Today when markets opened in London there was selling off the gate and price stopped in key support. This area must hold. If not I would expect move to 1,3640 and 1,3600.
So far I do not see any confirmation of buyers. If I get a signal I would like to take long trade(s) since there are attractive targets.
EURUSD - We had a nice buying initiative during yesterday´s US session and price tested first target I showed yesterday. There was nice Pin bar on 2h and 4h chart which was good for entry. I took some long trades and took part in the upside move.
Now price seems to have a problem to break through 1,3730 again. I am waiting for test into area of yesterday´s buying initiative and I want to see buyers react there again. If I get confirmation of buyers I will attempt long trade(s) again.
EURUSD - The support zone shown in my previous post worked nicely on Friday. Actually there was the only reasonable move of the day from this support (two times). I took long trade on the second test. For the rest of Friday the market was boring.
We are in sideways move (with value between 1,3705-1,3715) and I am not able to say if there is more buying activity or selling activity going on.
We had nice buying reaction and initiative on Thursday but no continuation on Friday.
I am waiting for new clues from the market. Since there is no macro news today I expect another boring day with minimum opportunities to trade.
EURUSD - Yesterday played out as expected - narrow range, minimum volume, only scalp trading opportunities.
For today there is high probability of testing high of Asian session. But unless we have some news that will activate longer time frames and big players I expect price rotation in major Value Area.
Until we get a decisive breakout from the Value Area I am not interested in trading this market.
EURUSD - Yesterday brought only 2 long opportunities to trade. In my eyes they were more of a scalp trade which I do rarely. Anyway I took both trades.
During today´s Asian session price also tested yesterday´s high, which I called high probability target in yesterday´s post.
For today I expect continuation of sideways movement until the FOMC MM release. I would guess that this event attracts big players into the market and we could finaly get some moves and swing trade opportunities.
I will wait for clues after the release.
EURUSD - Yesterday´s development was a bit surprising for me. It all started with selloff right at lunch (manipulative). However this selloff broke through important support and left a single print behid.
Then some 30 minutes before FOMC MM release there was quick test into key support around 1,3633 and strong rejection on heavy volume.
The Valeu Area was established lower for yesterday which is more bearish for me. However the strong buying reaction shows some buying interest. But so far buyers have not been able to push price significantly higher.
I am waiting in resistences for short opportunities.
EURUSD - Yesterday we had a sideways moving market with minimum volume.
Volume is still low this morning and I am waiting where big players will want to take part in this market.
Value Area was established higher yesterday and I see potential for continuation of sideways movement and correction into important resitence around 1,3700. It will be important how sellers will react there.
In the attached picture I share 2 good supports for potential long trade.
EURUSD - Market continued it´s sideways movement yesterday. Both supports from my last post gave profitable long scalp opportunities. My buy limit order at 1,3638 was not filled (basically by 0,5 pip). I took a scalp agresivelly in the second support.
However the activity of big players during the downside move was minimal. First increase in activity came with test of Friday´s and Monday´s lows. I took 2 long positions there. I closed one around dPOC and held the second just in case the market would rally overnight. It did not happen so I closed it this morning.
Today the market shows minimum activity of big players. I expect test below yesterday´s low and eventually into “super support” 1,3600-1,3590. I want to take long trades there and wait what happens from there.
EURUSD - We finally got activity by big players yesterday. It was in the support I posted about yesterday morning.
There was nice divergence betwen Price and Orderflow which hinted buying activity. I took long trades according to my plan. I also tried out few scalp trades yesterday and this morning in the support area.
EURUSD - Developing weekly POC proved itself as strong resistence yesterday. Price tested there 3 times and was not able to break through.
We are thus stuck in sideways move in narrow range between developing weekly POC a VAL.
If buyers from Wednesday get nervous and start to get rid of their contracts we can witness selloff into 1,3520 and 1,3500.
Until we break below this week´s low I have neutral bias which will turn bullish if we break above 1,3620.
EURUSD - Price attempted to move higher during Friday´s US session. Bying initiative was countered by sellers from weekly dVAH.
Today´s morning macro news from Europe helped to push price lower.
My bias is neutral at the moment. I think we will not witness any major move before Thurday´s ECB.
Hi,
Good to see you doing so good with price action and market profile.
I have one question, what platform/indicator are you using?
Thanks
Hello,
I find it very good to combine MP and PA.
I use NinjaTrader + Market Profit Pack (use Google)
