Looks like volume will be arriving at the end of this week with a concentration on Thursday.
EU - Price fell through and is holding below the demand position, and new supply seems to be arriving even on Friday. A continuation could be very real at this point, as there is no clear obstacle on the chart, a glut of supply and no obstructing news for a few days. I have a stop (demand position) and 1:1.5 RR within a 2N range, so I will open a continuing short.
DXY - Price is still within the selling range that has held since 10/23, but the new volume appears to be demand eagerly hitting that supply position. Though this could signify an obstacle for my EU play, demand appears to be gaining strength into this obstacle, not losing it.
No news yet No change in what I said yesterday in terms of projecting volume.
EU - Today was another supply continuation. Volume did decrease, but the majority of it was selling. Price flirted with my TP, so I closed the position just outside it (bird in the hand). This may continue to lazily fall until more volume arrives.
UJ - Though price overall rose, it appears that some supply arrived to slow it down. I believe holding is still the right call considering the recent demand strength and continued formations of both a higher high and low above the 20ema.
Never finished typing up yesterday’s journal, so I’m jumping to today.
EU - There was similar volume as yesterday, and supply lost some steam, so it appears more buyers arrived. We are also at the 2N target I’m watching given the start of the trend and subsequent inflection. Though this move is certainly not weak, I don’t see an attractive setup for either continuation or reversal.
UJ - Similarly to EU, nearly-equal volume arrived, but this was primarily demand with the same strength as shown previously. I’m holding the continuation.
DXY - Equal volume, similar demand result, but strong injection of supply on lower TF. Price is also near a similar 2N target that is almost identical to EU. No attractive entry for continuation or reversal yet.
Lots of UJ news next week, so lots of volume to come, but not much for EU.
EU - Demand appears to be arriving at this 2N location on the chart. It’s not overwhelming, but it may throw EU into a sideways run momentarily. No entry at this time, as there is no stop for reversal, nor pullback to capitalize on for continuation.
UJ - Today was pretty much entirely supply, but price did not break the demand position I am currently trading. I’ll hold the continuation through the weekend, as the range being entered was previously gobbled up with about double the volume in demand.
DXY - Price retreated on slightly decreasing volume, which is less concerning than increasing volume. Price is also approaching the 2N target I’m watching, but has enough space such that my position can improve. Though EU is losing steam, UJ could close that distance.
DXY - More dollar weakness shown, but on decreasing volume, so demand remains in control. This retracement bodes poorly for my UJ position, depending on the volume that comes through this week. With no significant EU news, this retracement could continue into next week.
UJ - More volume, with the main range absorbed by demand, though below the previous candle. With the trend still favoring demand, and LTF volume appearing to also be demand, I’m holding this continuation.
EU - Lots of supply arrived today, bringing price to my 2N target. This looks like a healthy continuation now given the progress made by supply, but this trend looks fully extended.
UJ - Supply came and held price below the position I was trading, so I closed the position. A retracement could be materializing, but price is still healthily trending above the 20ema.
DXY - Essentially the same analysis as EU. Demand came in, bringing price closer to the 2N target I’m watching.
No change in what I said yesterday in terms of projecting volume.
