Looking for Higher Price As price has trade back into the discount of the leg and took SSL from the left, price may continue higher from here. Confluence: Divergence with DXY Algorithm use FOMC as catalyst to move price back into the discount in order to accumulate more Long orders at cheaper price while taking out SSL stacked from the left.
### My Current level of development — 20 March 2023 - When I come to this point, I no longer obsess with what tool I’m about to use in analyzing the market. I use whatever is suitable and best to use in that particular given scenario. The market is dynamic, it’s constantly changing, the situation you see now will be different you see yesterday, so you choose what...
Tape Reading The purpose of doing this is to read and feel the Price Action. Through seeing the candles form, you can train your patience, it's important to learn to do nothing.
Potential Scenario: Price may pullback up to this daily bearish OB and even go slightly higher than the high of the bearish candle, and get rejected from the mean threshold of this OB, and continue lower. Eventually, price may seems like moving in a descending order to reach to the daily OB below. If price turn into bullish and come back to this area, I expect...
A pullback is likely to take place in the near future based on the most recent PA. The way price reacted to the CPI news on 12 Jan & PPI news on 18 Jan suggesting that price has now lack of momentum to sustain the move higher. And given the huge imbalance of orders created from NFP, algorithm is very likely to seek to rebalance their inventory. Long-term bias of...
Impulsive bearish move with huge Imbalance formed due to unexpected news from BOJ. We may use this as our HTF directional bias for long term perspective. Based on the principle of "For every seller there must be a buyer", liquidity provider must have experience orders imbalance from this move. In other words, they will have more Long position in their account...
Based on the way Dollar reacted to the most recent news, a short-term bullishness could be expected. Combined the intermarket analysis, I come to a conclusion that AU is most bearish, EU is most bullish. In terms of short priority(when DXY confirming short-term bullish intention), AU > GU > EU. If DXY is ranging, Long EURAUD.
AU is more bullish than GU Look how price take out the Tuesday Range and follow through.
Price as expected react to the 1H OB after taking out the NFP low. It's now heading towards the EQHs. Let's see if price reverse after taking out this EQHs.
Intermarket Analysis - Why EU is more bullish than AU & GU? If Dollar is going higher, I'm going to Long USDCAD and Short GU & AU.
Thursday daily candle expansion If price want to continue higher, it will probably wick through the low of last 2 daily candle as EQLs/SSL, and retrace immediately when it mitigates the OB. At the end, the daily candle will looks like a pinbar with a longer wick to downside.
Price may leave the IRL/EQHs untaken and continue to spool lower until it reach the OB below. Let's see what price wanna do.
Based on what price did in Monday to predict the possible Tuesday price expansion In terms of daily, price is very likely to form a doji today, range or move down and move back up, after yesterday impulsive bearish push, price may enter a cool down period, it may continue lower during LD as a continuation of yesterday strong bearish trend. NY session price may...
In terms of DXY weekly profile, price may form a retracement from here. There are 3 significant LQD found in different time frames. 1. Structural low from the left in weeklyTF, 2. EQLs in dailyTF, 3. NFP bullish impulsive candle low in 15m.
Price break and retrace immediately. Taking out the BSL above the structural high/last weekly candle high from the left. Comparing AU to GU, GU is relatively bullish. Therefore, if I'm looking for short AU will be my primary choice and if I'm looking for Long I will go for GU.
Price leave the 1H decisional OB unmitigated, this could be the weekly objective for price to come down to. And the low formed last Friday (NFP created low) will now be serve as a SSL for price to gravitate to this area.
As price has put in a new daily HH, and e have major news event ahead, like NFP, it's best not to trade now and wait for the directional bias to confirm after the news, come back next week, next week will probably have more good opportunity to trade.
What direction Wednesday will most likely to expand to? At this moment, demand is having the control during Asian Session, at least we didn't see price continue to move lower during Asian Session. If demand continue to hold, price is very likely to go above yesterday high for LQD of BSL then continue lower.