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EURGBP / Critical Volume Signals and Key Price LevelsTechnical Analysis: EUR/GBP (4H Chart) Current Price Action: The EUR/GBP pair is trading around 0.84722, near the pivot line at 0.84915. Key Observations: 1. Primary Support and Resistance Levels: Primary Support Line (Monthly): 0.83977 Primary Support Line (Yearly): 0.83393 Resistance Line: 0.85728 2. Supply Zone: - A sensitive decision area characterized by high volatility is identified around 0.85204 to 0.85394. 3. Support and Resistance Areas: Secondary Support Area: Around 0.84265 Resistance Area: Around 0.84915 to 0.85204 Scenarios: Bullish Scenario: Breakout Above Pivot Line: If the price can break and sustain above the pivot line at 0.84915, it could aim for the resistance area around 0.85204. A further breakout from this level could see the price move towards the supply zone and potentially higher towards the resistance line at 0.85728. Support from Rising Trend Line : The ascending trend line providing support suggests continued bullish momentum if it holds, potentially pushing the price higher. Bearish Scenario: Failure at Pivot Line: If the price fails to break above the pivot line at 0.84915, it could retreat towards the secondary support area around 0.84265. Downside Targets: Sustained bearish pressure could push the price further down to the primary support lines at 0.83977 and 0.83393. Today's Expected Trading Range: - The anticipated trading range for today is between the support level at 0.84265 and the resistance level at 0.85204. Pivot Line: 0.84915 Resistance Levels: 0.85204, 0.85394, 0.85728 Support Levels: 0.84655, 0.84576, 0.84265 Summary: - The EUR/GBP pair is currently at a critical juncture near the pivot line. A breakout above this level could signal a bullish continuation towards higher resistance levels, while failure to hold this level could see a decline towards key support areas. The next week's direction will be heavily influenced by the price action around the pivot line and the supply zone. Direction for the Next Week: Bullish Direction: Likely if the price breaks and sustains above 0.84915 and moves past 0.85204, targeting 0.85728. Bearish Direction: Possible if the price fails to break the pivot line and drops below the secondary support area at 0.84265, targeting 0.83977 and potentially lower to 0.83393. ------ There is also... Analysis Based on Volume Order Book (Expo) for EUR/GBP (4H Chart) The Volume Order Book (Expo) on the EUR/GBP 4H chart provides insights into the liquidity and potential price movement based on the distribution of orders. Here's a detailed analysis: Key Observations: 2.High Volume at 0.84915: There is a significant volume of 11.458M at the price level of 0.84915, which acts as a strong pivot point. This indicates that a lot of trading activity and interest is concentrated at this level. 2.Volume Clusters: Above Current Price: There are notable volumes at 0.85204 (5.866M), 0.85394 (4.434M), and 0.85728 (5.857M). These levels act as resistance where selling pressure might be strong. Below Current Price: There are significant volumes at 0.84655 (3.426M), 0.84576 (2.918M), and 0.84265 (2.647M). These levels act as support where buying interest is likely to be strong. Directional Bias: Bullish Indicators: Pivot Line Strength: The large volume at 0.84915 suggests that if the price can break and sustain above this level, it may indicate strong bullish momentum. Support Levels: The accumulation of buy orders below the current price indicates strong support around 0.84655 and 0.84265, which can provide a solid base for upward movement. Bearish Indicators: Resistance Levels: The substantial sell orders above the current price at 0.85204 and 0.85728 suggest that the price may face significant resistance, potentially limiting the upside.
Short
by SroshMayi
EURUSD could turn bearishWith last week behind us, week 22, hopefully next week will be a little more volatile. Last week was quite unimpressive, to be honest, with only one day of actual volatility. Wednesday was a nice day for profitability and really one of my most profitable in some time. There are signs from Thursday and Friday, that the Bulls are going to push for the next session to drive prices higher. However, when you look at the order book on the buy side and see where the bulls have set up their levels of support for the upcoming week, there is a clear sign of uncertainty within their movement and they are actually planning for a lower than expected region. I suspect that next week's upcoming news events are going to play a major role in the decision making process they have done as they have moved their lowest support outside the their previous methodologies. With more than a 10 pip distance between a second and third level support, I think they are concerned that a good portion of next week is going to drive prices lower. The Bears aren't going quietly either or sitting by idly. They have already established a rough 10% resistance level in the orderbook. though it is only one level, I suspect this is going to change as the news events unfold. Time will tell, but I expect this week to be just as profitable, if not more so than a previous weeks considering the expected volatility.
Short
by RobertD7723
EUR/USD week 15 analysis/outlookLast week, the EUR/USD market was a whirlwind of activity, marked by heightened volatility and significant price swings. The week began with bullish momentum, as buyers took charge and pushed prices higher. However, by midweek, the market experienced a dramatic shift, with increased selling pressure leading to sharp declines in the EUR/USD pair. Despite the tumultuous nature of the market, traders were presented with ample opportunities to capitalize on the volatility. Profit levels soared during periods of heightened activity, particularly on Wednesday, when profit levels far exceeded expectations. However, the increased volatility also posed significant challenges, with rapid price movements catching many traders off guard. Looking ahead to next week, I anticipate continued volatility in the EUR/USD market. While there may be some attempts at recovery, the overall sentiment remains uncertain, with the potential for further downside pressure. Traders should remain cautious and vigilant, closely monitoring market conditions and adjusting their strategies accordingly.
by RobertD7723
EUR/USD Week 14 Analysys/OutlookTime dive into the whirlwind that was Week 14 in the EUR/USD market. Last week was nothing short of intense, with each trading day bringing its own set of surprises and challenges. Despite the rollercoaster ride, the overall price range remained relatively stable compared to the previous week. It's fascinating to see how the market dynamics played out amidst the volatility. When we look at the order book, it's clear that both buyers and sellers were actively engaged. Buyers were eager for lower prices, while sellers seemed content with slightly lower values for profits, compare to initial volume levels. Now, let's talk about resistance levels. Bears had set up some formidable resistance in the order book, but as history has shown, Bulls have a knack for breaking through even the toughest barriers. Looking ahead, while we may not see significant changes in the overall price range, I anticipate some fluctuations within that range. It's all part of the ebb and flow of the market. On a longer-term basis, the market has shown remarkable stability since January 15th. It's a testament to the underlying trends that have been driving the market. So, what does this mean for traders? Well, there's no one-size-fits-all answer, but strategies like grid trading and trend-following could prove fruitful. Of course, proper risk management and strategy testing are crucial. So, while last week may have been exciting, the name of the game is slow and steady profits. It's all about consistency in the trading world.
by RobertD7723
Trade like the pros in dark pools█ Trade like the pros in dark pools If you're accustomed to trading on the stock exchange, you know that an exchange operates like a digitalized marketplace. Buyers and sellers gather around a stock and indicate what they're willing to trade for, hoping that two orders will match. Before you decide at what price you're willing to trade, you likely look at the order book depth. There, we see how many shares are seeking buyers or sellers at a specific price. For a trade to be completed, the so-called spread needs to be crossed. The spread is the difference between the buying and selling price, in the example above 20 cents (226.40 – 226.20). In stocks that are traded very frequently, the spread is smaller and it's seldom a problem to execute very large volumes on the open market. █ Dark pools simplify trading in small companies Many stocks have too small a turnover to place a larger order without significantly affecting the price. Therefore, professionals have used dark pools for many years. Leading brokers are now making this flow available to all their customers. The advantage of a dark pool is that you don't need to show your order to other market participants until a trade has been completed. This facilitates, especially, trading in larger volumes. Another advantage of dark pools is that trades are made at so-called midprice. Returning to the example above, a trade would occur when someone is willing to pay the full spread of 20 cents. Had the order book been a dark pool, the midprice would have been 226.30 SEK. In this way, it results in a better price for both buyers and sellers. For those trading in larger volumes, this can mean a lot of money. █ All orders pass through dark pools The fact that dark pools are now available to everyone does not mean that all orders should be placed there. In fact, there are several barriers to how much trading can be routed this way before the dark pool is temporarily limited. When you place a regular order, thanks to so-called smart order routing, it will check if a better completion can be achieved via this dark pool than on the open market. So, whether you choose to actively place an order in the dark pool or not, you can benefit from the characteristics of the dark pool. █ Shouldn't the exchange be completely open? A criticism of dark pools is that they are exactly as they sound, hidden. But all trades made in Nasdaq Stockholm's dark pool are visible under completions. Stocks with low turnover can be difficult to trade without significantly affecting the price. ⚪ Let's take another example. Here we have a stock where the entire buy side corresponds to just over 130,000 SEK. That's a lot of money, but not an unreasonable holding for a private individual. This is also an order book from a company with a market value of about 1.6 billion. Thus, a small company, but not so small that trading for a couple of hundred thousand SEK should be unreasonable. Here, the spread is also 30 cents. Which is over one (1) percent on this stock price. Being able to halve this cost can save a lot of money both directly and over time. It is also possible to hide parts of an order today. In the advanced order placement on the open market, there is actually a tool for that problem as well. There, you can set the visible number of shares to be shown in the order book. █ When you should use the dark pool If you have never had problems with your order placement, you probably don't even need to consider placing an order in the dark pool. But if you trade stocks where you need to split your orders to not swallow too large a part of the order book, it might be valuable to try. ----------------- Disclaimer This is an educational study for entertainment purposes only. The information in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell securities. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on evaluating their financial circumstances, investment objectives, risk tolerance, and liquidity needs. My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Editors' picks
OMXSTO:ERIC_AEducation
by Zeiierman
3
EUR/USD near lower rangeChart legend: Yellow lines: These line represent the lower and upper boundary of the range that has been tracked for the last 30+ days. Orange lines: Buy and sell side volume in the order book. These areas are where the buying and selling volume are the highest. Note that multiple zone could exist, these are just the strongest ones. Purple lines: This is the combination of order book volume and frequency counting of prices. The combined weight shows where the market actually is in relation to current price of what the buyers and sellers want. Outlook: I believe the market is going to re-test the support area around 1.079. The order book suppport levels are considerably weak compared to the resistance levels and bearish pressure, so we could have prices set a new lower range over the week. It should be taken into consideration though, that the bulls have had several weaker support level and still managed to fend off bearish pressure. While the frequency weighted support zone does look quite weak, the order book does have a substantial amount of orders placed below the area that could stave off the bears. While a new lower range is possible, I don't believe there is going to be any major changes in the current market direction for the first half of the week at a minimum. I think the bears will need more of a show to really move the market lower for a substantially longer period of time.
by RobertD7723
Ok BITCOIN, STOP RIGHT HERE!The reason that the recent movement did not have much volume on the chart is that there were no sell orders on the order book on the way up so most of the market orders were filled by soaking higher limit orders. According to the Binance's Order Book, two things to notice here is that: 1- There are more sell orders above 24900 which were not that much along the way. 2- The next major buy orders after 24600 are at 22800 When the price goes up, it fills all the buy orders and there will be a huge gap between the price and the major buy orders until the price is stabled. That is why a lot of big bullish movements have a bearish one after that. If you have Bitcoin, my exit signal is crossing down 24500. And if you do not have any, PLEASE CONTROL YOUR FOMO AND DO NOT ENTER FOR LONG HERE!
Short
by NoaTrader
Q&As: order bookThere are people who trade based in order book exclusively & promote these so called orderflow trading platforms, even these days. Surely, it's a great deed to learn this interesting, exotic & unusual skill, but the thing is it's completely unnecessary. The real use cases for DOM aka LOB aka order book aka Level 2 data are mitigating adverse selection, reducing market impact & spotting potential counter agents. If you think deeper, all these issues are really all about position sizing and nothing else, you can operate as big as it's possible (depending how much diminishing returns you can let go), and the only thing that can help you figure it all out is order book. The one & only principle of orderbook analysis is to understand where's us (operators), and where's them (ones who just need to be filled), be nice with yours & be a nice counter agent for them. It's very simple, clients place big orders that immediately stand out. Everything else is us, we're spreading our orders equally all around the book. For some reason not many think about it, but as a maker it's good to not only provide liquidity aka make the market, but also to consume these huge limit orders if it lets you to offload some risk or to open a position if the prices are good. By doing so you always make the market better, the faster and in more clear fashion the market activity is unwinding - better for all of us. If you look at order book histogram and imagine it turned horizontally, you'll see peaks & valleys. So being inside a loading range (past a level) or nearby risk offloading areas (predetermined exit areas), you spread your limit orders the way they kinda fill these valleys, and you can also use market orders to kinda smooth the sharp peaks in order book. That's how you reduce your market impact.Your impact will start being too high when by filling the valleys you'll be creating new peaks, and by smoothing peaks you'll be creating new valleys. Easy enough? All the wise-ass reinforced learning & stochastic control models will output the same behavior, just a bit worse because they'll never defeat your "feel". They way you can process a feedback loop, as an organic, is DOPE. By monitoring your position in the queue you can decide to replace some limit orders that sit deep to somewhere where probabilities won't be your enemies. If you're not in the first 5% of the queue at these places, your're prone to adverse selection. Closer you are to the front of the level, the worse position in the queue is ok. Negligible but stable adverse selection has a huge negative long term impact, should be taken very srsly. In theory, it makes sense to care about order book as soon as you start trading more than 1 lot or if 1 lot is already a serious size on a given instrument. In practice, when you notice a statistically significant drop in revenue per lot on a given instrument, minding all other factors are equal, it's time to open dem books.
LSE:DOMEducation
by gorx1
⚡️ #BTCLIVE - 29.07 ⚡️⚡️ #BTCLIVE - 29.07 60:40 Bearish:Bullish I promise I am not a bear!!! The price smashed through the last point I was expecting a retracement. Amazingly it looks like BTC is finally doing what it was born to do and be a store of value and a safe haven during torrid times like these!!! We are coming up no to the key resistance of the longer term range and it is definitely the business end of the deal. I feel going into the weekend with alot of bearish TA on the cards will likely result in a retracement of pretty epic proportions. I am usually pretty bearish on weekends simply due to lower volume and generally more retail heavy traders being active. A lot of folks might be getting a little nervous too now they have made some nice and unexpected gains this week so might be happy to take the profit and chill for a bit. We are looking at a big bearish divergence on the 1 hour which is overbought too along with an exhaustion signal. The POC line is sitting very low along with the Future Pivot which carries more weight as the week nears the close. Orderbooks are looking a little bearish too. I am thinking that we will be seeing $22.9k in the pretty short-term with a more max pain target of $21k and possibly lower. There is a bullish scenario, there is ALWAYS a bullish scenario - but if we break $24.8k or more reliably $25k then it is likely we will see the tracking up to the CME gap at $27k+ Volatility is not over I feel so stay safe!
by Kryptochristian
5
⚡️ #BTC OUTLOOK - 18/07 ⚡️⚡️ #BTC OUTLOOK - 18/07⚡️ 50:50 Bearish:Bullish Challenging top of range and key resistance, oversold but with a bullish divergence in play. Key notes are flipping the 200EMA - which is an incredibly bullish sentiment. We have a very recent bullish Divergence on the RSI although coming into Oversold territory. There is a significant resistance to break through although the orderbooks are looking like there are a lot of bulls support the $22k support. Bullish Play - Breaking price resistance and trendline resistance of $23.4k could open up a target of the CME gap at $27.3k Bearish Play - Failing to break can form double top and send us back to $20k
INDEX:BTCUSD
by Kryptochristian
S&P500 Taking A Breather Pricing In Inflation And Tapering The higher US CPI read of 6.2 % YoY lead to a spike in US10Y and a small sell off in the ES. As of now the uptrend remains intact and as long as we do not get a close below 4300 I am looking for long entries. Buy at or around 4552 if support holds or buy break and close above 4713 resistance. Looking at the order book we can see a lot more sell orders between 4662 up to 4675 vs much less buying orders below 4659 down towards 4612. CME_MINI:ES1!
CME_MINI:ES1!Long
by TradingPit