EURUSD: DAY 3 SHORTS in the market
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“Trade setups, not movements”
Let’s jump into the Technical Analysis:
WEEKLY TEMPLATE (1hr chart):
Since Monday this market has been trending down, triggering shorts breakout traders in the market for three days in a row, potential signal of reverse considering the price at the low of the week
DAILY TEMPLATE (15min chart):
Price after asian session printed high low of the day, it pinned down into the LOW and pumped up.
THESIS:
Major red news on calendar, no trade before 9:45am NYT
Long: considering 3 days of order flow trapped lower and lower, money and stops are placed above the HOW, this could complete a weekly dump and pump template by tomorrow.
Short: I can't exclude that this market is still breaking down and keep going lower considering, however, the market still in the backside of the move.
SETUP:
Long: dump into the previous closing price (CP), consolidation for 30/45 min and pump back to the HOW, or eventually first bar entry after news release If a green strong momentum bar is presented with news.
Short: Pump into Monday low (opening range), or previous HOD, consolidation for a dump back into the current LOD/LOW.
If none of this scenario will present, I wouldn't consider any other trade setup variations.
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
“Trade setups, not movements”
Let’s jump into the Technical Analysis:
WEEKLY TEMPLATE (1hr chart):
Since Monday this market has been trending down, triggering shorts breakout traders in the market for three days in a row, potential signal of reverse considering the price at the low of the week
DAILY TEMPLATE (15min chart):
Price after asian session printed high low of the day, it pinned down into the LOW and pumped up.
THESIS:
Major red news on calendar, no trade before 9:45am NYT
Long: considering 3 days of order flow trapped lower and lower, money and stops are placed above the HOW, this could complete a weekly dump and pump template by tomorrow.
Short: I can't exclude that this market is still breaking down and keep going lower considering, however, the market still in the backside of the move.
SETUP:
Long: dump into the previous closing price (CP), consolidation for 30/45 min and pump back to the HOW, or eventually first bar entry after news release If a green strong momentum bar is presented with news.
Short: Pump into Monday low (opening range), or previous HOD, consolidation for a dump back into the current LOD/LOW.
If none of this scenario will present, I wouldn't consider any other trade setup variations.
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
Comment:
Breaking higher.. news release in 40 minutes
Comment:
News release broke in structure, wait for the setup!
News release broke in structure, wait for the setup!
Comment:
NY session almost done, no trade setup identified on EURUSD
Comment:
Market broke lower, reversing during London session, still day 3 breakout traders short are triggered in the market, still a potential signal after the major red news release at 10am NYT.
Short setup: pump into the previous HOD (or current HOD if locked in, means the high has to fail with any form of reversal pattern), consolidation till news and dump back into the current LOW
Long setup: dump into closing price of yesterday at least, consolidation for a reversal (this trade long can be very lucrative if setup correctly)
Market broke lower, reversing during London session, still day 3 breakout traders short are triggered in the market, still a potential signal after the major red news release at 10am NYT.
Short setup: pump into the previous HOD (or current HOD if locked in, means the high has to fail with any form of reversal pattern), consolidation till news and dump back into the current LOW
Long setup: dump into closing price of yesterday at least, consolidation for a reversal (this trade long can be very lucrative if setup correctly)
Understand a daily pump and dump, if presented