Waited all London session for price to get to this area. Looking for a break of the lows and clean rejection first before getting in on the buy. NY session is just about to start and there is news in less than 2hours. Stay patient and ready to strike when the iron is hot.
Looks like GU is exhausted from the move this morning and now offering a pull back. I am cautious on this looking for to to break lows and make a new low for the week possibly then office a nice buy opportunity. Just be careful as the new is just before London open tomorrow.
so here is a update on price action. It has moved bearish as I warned could possibly happen from the news. Now that we are in the territory to break the lows created on Monday, we are in line to make a low for the week mid week and catch a nice Buy move to the upside. Just have to wait for the break and look for signs it wants to move bullish.
Our prediction for Bullish price action played out nicely. Now we are monitoring looking for the next move that we can get involved in. Price is looking like its about to reverse for a pull back so I'm a bit cautions on holding any where past this current point cause it could break down at any moment. Will sit on hands and wait for the next opportunity.
Now is the time to watch for a moment to enter. We have bullish price action breaking out of the Asian range created for the day. If it remains above this zone after London open then I will look for a pull back into it, to get involved on the buy action.
As we come in to Tues of the week we are looking for a break out to the upside or a low to be made for the week. We remain on the sidelines until we see clear indication on what price wants to do then get active from there.
Beginning of the week and the market is making its round on what it intends to do. We will sit on hands and wait for further confirmation as to what it would like to do. Patience is Key!
So looking at the Fed announcement last week it made the dollar weak. Coming into the new week we are looking for opportunities to take advantage. We will monitor for signs of further bearish pressure.
Going over how the week played out on GU. It started out Bearish but the Fed New on the Dollar changed the direction mid week. Now we are going into a new week expecting more Bullish pressure based on the stance with the market on the dollar. Will be Monitoring for Opportunities.
Previously I mentioned that the Dollar can dip down in the area its in before it goes bullish. It did just that and now news has hit and giving it some bullish pressure to change direction. If we get a clean breakout above 104.6 then we should get more bullish pressure to the upside. But if it fails and drops below 102.6 then we should get more Bearish pressure....
The dollar does not show clear direction at the moment cause it has been tanking the entire month of November. It has now reached a area I feel a reversal would make sense but it could also keep falling. Here is a bit of explanation to my theory. As I continue to monitor this week I will be watching for some good scalping and day trading positions on GBPUSD.
As I monitor the movement on DXY I am still neutral with no bias on direction. I feel it could move bullish but it has yet to show significant signs that it wants to move that way. I'm currently waiting to see Lows taken then see how it reacts from there. It is in a good position to flip directions but its important that we do not jump in prematurely.
Caught some great moves on GU for the week. Just going over what I seen play out and where I was looking to take advantage.
Based on the position GU closed in last week it is in the center of a Value area pending break out to either side. Looks like they tested the bottom of that value area to go lower twice and faced rejection. While this is happening DXY was doing the opposite struggling to break higher. I'm thinking this week if we can get a break out above 1.28187 we can manage to...
Finally! Things are lining up to see some bearish action! GU has just made the high of the week. I'm watching the order flow and can see the momentum change. The Delta has been negative on every Hour candle for the last 2 weeks. The DXY is also in a critical decision phase and area. We have DXY News coming up for NY session in 3 hours. According to volume...
GU is still bullish searching for value even higher. At this point it can do some of whatever. It's not clear on a direction so nothing to do but sit on my hands for now. It is about to move into the next value area. We will have to wait and see how it reacts to this zone.
last week going into this week I have been looking at and observing so much more information so I didn't get to get this idea in before it happened as I wanted to see things play out to support my bias more. Im expecting for GU to turn bearish. The market is fairly balanced out right now and price returned to a Previous Point of control on the chart. It rejected...
So I was bearish on EU and it had continued to push up all week. They say hindsight is 20/20 aye?...I seen the FVG on the daily but did not think they would go for it. Well they did and filled it completely. Now I have more reason to wait for signs of the sell pressure to come in next week. Sitting on my hands till the market is more clear next week.