EURUSD: First red day into the new week
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I always repeat it in every post I share, my analysis are not a forecast and/or prediction regarding where the market can go, I'm not interested in gambling, neither in knowing the direction of any market. My goal in trading is to extract money from it, I wouldn't care much about anything else.
What I draw (lines, arrows) are not directional move, but the current setup I'm looking for, in the day, so do not be surprised if I go long on tomorrow :)
Thanks for understanding and hope this can give more value to your analysis as well.
Let's start!
EURUSD may start an interesting process, we can see all the week breaking down potentially going to complete the 2 weeks pump and dump, or in the week itself, this market can setup for a weekly dump and pump, starting from Monday. For a better understanding let's analyse day by day to see the logic behind each possible move during the week.
Starting from the last week we can see almost all the week trending higher, the first lower low into the LOD happened on Thursday, which is currently a potential anchor point for a pump and dump into this current bearish scenario!
Monday, the opening range of the week pushed a little bit higher, breaking out and quickly dumping back down.
Tuesday opening, the market kept going lower, breaking through the LOD (Monday low) going in consolidation till the end of the day, triggering breakout short traders and closing the day in breakout.
Today, the market went lower and looks like still dumping with a great momentum.
Now.. let's talk about the thesis.
1. Bearish:
this market can easily stop the traders long form the last Thursday, considering a great bullish move from that level, eventually reversing during the upcoming days or keep going lower, who know, we may see this market completing 2 week pump and dump scenario, back into the previous weekly low.
2. Bullish:
although today I'm not interested in counter trending this market, I don't exclude a potential dump and pump in the current week if the market will start consolidating around the previous Thursday low, not gonna happen today but we can see such a scenario by the end of the week.
Remember, today FOMC, I don't think I would like to expose my capital in a such a dangerous volatile market!
Entry criteria:
As I said, currently I'm not interested in counter trending such a strong down move market, at least not today and not before news release.
I can think about a scalp short if the market will retest at least the current high of session, consolidating around that level for 30 to 45min before to see a potential 25+ pip scalp in the session.
However, during the upcoming days we can certainly see better opportunities, but I decided to share it, because EURUSD look pretty clean to me!
Gianni
I always repeat it in every post I share, my analysis are not a forecast and/or prediction regarding where the market can go, I'm not interested in gambling, neither in knowing the direction of any market. My goal in trading is to extract money from it, I wouldn't care much about anything else.
What I draw (lines, arrows) are not directional move, but the current setup I'm looking for, in the day, so do not be surprised if I go long on tomorrow :)
Thanks for understanding and hope this can give more value to your analysis as well.
Let's start!
EURUSD may start an interesting process, we can see all the week breaking down potentially going to complete the 2 weeks pump and dump, or in the week itself, this market can setup for a weekly dump and pump, starting from Monday. For a better understanding let's analyse day by day to see the logic behind each possible move during the week.
Starting from the last week we can see almost all the week trending higher, the first lower low into the LOD happened on Thursday, which is currently a potential anchor point for a pump and dump into this current bearish scenario!
Monday, the opening range of the week pushed a little bit higher, breaking out and quickly dumping back down.
Tuesday opening, the market kept going lower, breaking through the LOD (Monday low) going in consolidation till the end of the day, triggering breakout short traders and closing the day in breakout.
Today, the market went lower and looks like still dumping with a great momentum.
Now.. let's talk about the thesis.
1. Bearish:
this market can easily stop the traders long form the last Thursday, considering a great bullish move from that level, eventually reversing during the upcoming days or keep going lower, who know, we may see this market completing 2 week pump and dump scenario, back into the previous weekly low.
2. Bullish:
although today I'm not interested in counter trending this market, I don't exclude a potential dump and pump in the current week if the market will start consolidating around the previous Thursday low, not gonna happen today but we can see such a scenario by the end of the week.
Remember, today FOMC, I don't think I would like to expose my capital in a such a dangerous volatile market!
Entry criteria:
As I said, currently I'm not interested in counter trending such a strong down move market, at least not today and not before news release.
I can think about a scalp short if the market will retest at least the current high of session, consolidating around that level for 30 to 45min before to see a potential 25+ pip scalp in the session.
However, during the upcoming days we can certainly see better opportunities, but I decided to share it, because EURUSD look pretty clean to me!
Gianni
Note
NY session today has first hour EUR major red news, as always, no reason to predict.
Personally, I will still be looking for a potential short setup if identified, and I will be sharing daily design after the news.
No action and risk will be taken before.
Gianni
Note
Yesterday during NY session I didn't see any setup and/or consolidation in the level I marked.
Today, possibly, it can be a London session opportunity in a pump and dump from NY session of yesterday.
Not a financial suggestion because, but let's see if later on in the day we can have more opportunities
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.