Price is currently in a W/D1 -FVG. Therefore, I am Bearish.
Look at the position of price in the trading range. Reached into Premium last week, then back into Discount a bit. We Open this week with price heading up, in the near term.
Looking for the signature for sells.
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Bearish.
Price has raided an old swing
low, and then mitigated a +OB.
Expecting a bullish reaction in
the near term, up to the local
lows. The market will resume
the bearish trend afterwards.
I enjoy any feedback or questions in the comment section.
All opinions are welcome!
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We took a trade previously on GBP with a loss of 0.5% - short, then took another trade after NFP confirmed direction on a swing strategy. along with COT data which helped to confirm the short sizing by the large contract holders we taken another short.
Prior to CPI and Prior to 4 weeks before the CPI of 4/11/2024
We had 4 weeks of sell signals through COT report.
Date - Net position
03/19/24 -78,920
3/12/24 -78,920
3/5/24 -64,123
27/2/24 -51,590
Because of these net position changes I have decided to short GBP.
So far Cotton short trade is correct currently making 4%
AUD Lost .5%
EUR Lost .5%
Waiting for rejection off the liquidity zone.
Then I will look to sell from that zone.
Selling only after the break below the HMA and the retest of the liquidity zone
**This is just my trading thought process and does not constitute as financial advice.
**Please trade with proper risk management*
We like the weekly price action in cable futures and would flip from short to long. (Did you at least trim your short position when daily PA started getting hot the other week?) Keep an eye on the monthly chart too.
;) Liquidity grab in the market Trendline creating strong support but also a lot of liquidity My guess is Market will grab liquidity and Then Move Foward Only if Confirmation.
Big time frame show down trend
In my opinion correction is over and price seem to continue go down
Flat correction ABC and head and shoulder look confluent so I used it entry this order
1.200 is target with about 2 RR
By Wyckoff logic selling climax might already pass
so mean reversal strategy use in this trade setup
momentum bullish divergence indicator such as ROC and MACD confirm this entry
On the backside of the short we can ape in for the bounce off the bottom, would not recommend futures as the open interest on the contracts will be low, options is how to play this. Safe side is sell the put (don't advise selling naked unless you can manage the trade at all hours) or a credit spread to hedge any risk. This will provide ample time to collect the...
Looking like cable wants to retest the STONG support zone it broke recently.
As we know, when support breaks, it becomes RESISTANCE.
A good BREAKOUT entry would be below the 12:00am candle today.
Please remember, Jackson hole is today so exercise extra caution and if needs be, reduce your lot size. Remember, protect your profit.
The news release was bad for the dollar.
it should soon reverse.
If the DXY falls off, cable should gain some strength.
Looking for a BREAKOUT LONG above the current 30 min candle. It seems like it has re-tested the bottom of the rage, so it makes sense to look for longs here.
Again, ONLY ENTER A BREAKOUT LONG ABOVE THE CURRENT 30 MIN CANDLE.
Disclaimer-Doing this mobile, it really sucks to be honest but here we go.
British Pound October 2023 - Short
Why V instead of U, concerns about the open interest on the September contracts on the CME. Open interest shirks about one month out, don’t get left holding the bag. For option traders, this does not affect your trade, your preference should be 6BU3...
Looks like the pound has retested the bottom of this mid term trend.
Placing a BREAKOUT long above the current 4HR candle with a target at the top of the range makes sense.
Expecting cable to stay range bound for the foreseeable future, at least until we can discern whether the UK will have a hard or shallow recession.
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