The chart above explains.
The trading range for the week. Just need to ensure the C & D count falls within the range. I think this makes things easier. Just need to ignore those that fall outside.
Lets see how this goes.
Good luck.
P/S : As always, do not believe what I say. Use your common sense.
The trading range for the week. Just need to ensure the C & D count falls within the range. I think this makes things easier. Just need to ignore those that fall outside.
Lets see how this goes.
Good luck.
P/S : As always, do not believe what I say. Use your common sense.
Comment:
It is Friday again. Price has been trading between 1.045 - 1.0700 for the past 5 weeks. And I think this would continue. It will continue until 10s02s break above +ve.
As you can see, knowing the 'Trading Range' has its advantageous. We know the Top @ 1.0700 and the Floor @ 1.0450. The Center being our yellow line @ 1.0575. Common sense will tell us that to Sell > 1.0575 and Buy < 1.0575.
Within this this Trading Range, there is also DAILY Price Point (DPP) where buyers/sellers converge. Today, that point is 1.0650 !!! Yesterday, it was 1.0550
Knowing the DPP certainly makes my trade even more accurate for I will only SELL when price is between 1.0650/1.0700. Most likely at the D @ 1.0688!!!
With the DPP, the usual POC from Volume Profile that I used to look at is now rendered 'obsolete' ..........
Good luck and have a nice weekend.
As you can see, knowing the 'Trading Range' has its advantageous. We know the Top @ 1.0700 and the Floor @ 1.0450. The Center being our yellow line @ 1.0575. Common sense will tell us that to Sell > 1.0575 and Buy < 1.0575.
Within this this Trading Range, there is also DAILY Price Point (DPP) where buyers/sellers converge. Today, that point is 1.0650 !!! Yesterday, it was 1.0550
Knowing the DPP certainly makes my trade even more accurate for I will only SELL when price is between 1.0650/1.0700. Most likely at the D @ 1.0688!!!
With the DPP, the usual POC from Volume Profile that I used to look at is now rendered 'obsolete' ..........
Good luck and have a nice weekend.
Comment:
Market decided on a breakthrough last night with the jobs report. The DPP is now 1.0750 - it has risen from 1.0550 to 1.0650 and now to 1.0750 - all in 3 days.
We would soon see the new trading range, which still has not extend much upwards. Demand/Supply is still concentrated around 1.0700. We should wait until the dust settles down and see the new trading direction.
The 10s02s had stop falling and is back on an upward trend now. This should limit any potential rise in EURUSD. If we look back, price was highest at 1.1276 on 18 July, which corresponds to the low in 10s02s. As the 10s02s rise, EURUSD falls. And once 10s02s breaks above zero, and lead by the 02s falling at a faster rate than the 10s ............
Good luck.
We would soon see the new trading range, which still has not extend much upwards. Demand/Supply is still concentrated around 1.0700. We should wait until the dust settles down and see the new trading direction.
The 10s02s had stop falling and is back on an upward trend now. This should limit any potential rise in EURUSD. If we look back, price was highest at 1.1276 on 18 July, which corresponds to the low in 10s02s. As the 10s02s rise, EURUSD falls. And once 10s02s breaks above zero, and lead by the 02s falling at a faster rate than the 10s ............
Good luck.
What is it that the MARKET is waiting for?