The_Modern_Day_Trader

13:50

The_Modern_Day_Trader

DXY: We're looking at the weekly range for HTF perspective and it's painting a clear picture. Price is hovering just below 1W equilibrium and so highly probable that we will mitigate this level. I've scrapped the 1D fib ranges as these were arguably a bit too subjective given I could project the retracement from multiple levels. 4H is still bullish and until price...

10:15

The_Modern_Day_Trader

Some observations as to how the market may develop early next week but as always will provide a weekly forecast Monday morning. Nonetheless, always good to prime the mind. Have a great weekend traders! Consistency is the choice you make, when you start doing the things you know you should be doing day in and day out.

07:59

The_Modern_Day_Trader

UJ Bias Analysis: After being stopped out at BE on the existing position, price protracted lower prior to NY session and into 1H range EPD (Both minor & major) and mitigated a 15M OB which aligned with a retest of the previous day's true open. Long positions as a re-entry were executed after entry confirmation was received. Grade: High Quality Valid What I did...

08:12

The_Modern_Day_Trader

UJ Bias Analysis: Price had begun distributing higher on the 4H & 1H TF's following a pullback into the 4H, 1-sided Fair Value Gap, so Resistance entries were in consideration given we were pulling back higher into premium on the 1D TF. I opted for the conservative entry after a 15M TBL sweep into a 15M Breaker Block once entry confirmation was received. Grade:...

06:30

The_Modern_Day_Trader

Pairs are developing as anticipated and still holding GBPJPY LONG after a near miss of my stop loss order. I'm anticipating a rally on the dollar heading into Wednesday's trading session as price has now broken out of the range but I do see the rally as a liquidity grab within the 1D Order Block before we sell off as part of a larger correction post the bullish...

14:55

The_Modern_Day_Trader

Bias Analysis: Daily is in premium on the minor swing and at equilibrium on the major swing but with the 4H structure still bullish (CT) there is upside potential on this pair. Long entries were within the 1H bullish range and after a correction into EPD at NY open, entry confirmation was received after trade parameters were met. Grade: High Quality Valid What I...

14:23

The_Modern_Day_Trader

After an aggressive appreciation of the dollar, we see the DXY trading within the 1D 1-sided FVG and now within the 1D range EPD. While I'm positioning myself for a sell off, I'd be wear of further appreciation as a result of NFP volatility before the real move takes shape over the course of the month. While I'm observing multiple scenario's on most pairs, my...

08:33

The_Modern_Day_Trader

UJ Bias Analysis: With 4H displacement lower, and an alignment with the daily short bias, an Optimal Alignment entry presented itself which was in line wit the 1H range. Price traded higher over the course of Asian session into 1H EPD and priori to London open protracted higher, sweeping TBL before displacing lower, where entry confirmation was received. Grade:...

11:14

The_Modern_Day_Trader

While price has been largely corrective on the dollar, price continues to trade lower in that corrective manner so instead of anticipating the deeper correction (which will come sooner or later), We should focus on what price is doing right now and trade accordingly. GBPJPY & USDJPY both had aggressive sell-off's out of key daily areas last week, which makes...

11:48

The_Modern_Day_Trader

EURUSD Bias Analysis: Daily displacement higher out of order block and OTE, with the 4H trending higher presented an optimal alignment entry which aligned with the 1H range for the day. After an impulsive protraction into 1H EPD which was within a 4H OB & 1H FVG, entry confirmation was received and a long position was executed. GBPJPY Bias Analysis: The daily...

20:00

The_Modern_Day_Trader

1. DXY - NEUTRAL 2. EURUSD - LONG 3. GBPJPY - NEUTRAL 4. USDJPY - NEUTRAL As you can see, multiple pairs have a neutral bias for me going into the week so I'll be paying close attention to how the lower time frames shape up they'll give the first indication of which side of the market we'll see sponsorship in. This means I'll be exercising patience going into...

09:08

The_Modern_Day_Trader

Bias Analysis: While the daily and 4H biases were both bearish, price reacted out of a 4H order block before consolidating on the 1H range, signalling that a deeper pullback may be on the cards. Once price swept liquidity to the downside on the 1H and then again on the 15M, this time as it protracted lower during London open, My trade parameters had been met and...

11:37

The_Modern_Day_Trader

Bias Analysis: Major daily swing was not yet in EPD and with consecutive bearish day within a trend lower and a previous daily close with a large wick to the upside the narrative was short. Trade was within 1H range to the downside and at 1H EPD. Grade: Valid What I did well or could've done better - Followed the plan, observed both scenario's (long and short)...

09:19

The_Modern_Day_Trader

Bias Analysis: Price was within EPD of the 1H range and after an initial sell off on Monday we saw a pullback over the course of Asian session on Tuesday and protraction into the 15M OB at London Killzone open which satisfied trade parameters before entry confirmation was achieved. Grade: High Probability What I did well or could've done better: - Clear with...

14:38

The_Modern_Day_Trader

Will the dollar correct higher or is the correction done and we're about to sell off aggressively? I'm more in favor of the former which would correlate structurally with the daily pullbacks we're seeing on EurUsd and AudUsd, which have formed 1H ranges respectively and are pending EPD mitigation for a sell off. After missed trades on Yen pairs today, I'll be...

14:39

The_Modern_Day_Trader

Bias Analysis: 1D Minor Swing at EPD with 4H Selling off in alignment with the daily bearish bias. A consolidation formed in alignment with the 1H range and after pulling back into a 4H 1-sided FVG, which confluent swept buy side liquidity, the trade parameters were met for a short position. Grade: High Probability What I did well or could've done better: - I...

14:28

The_Modern_Day_Trader

Trade recap provided on UsdJpy long position executed today as well as a weekly forecast on DXY, EURUSD, AUDUSD, GBPJPY & USDJPY. The dollar will look to appreciate this week as we gravitate towards strong daily levels and I anticipate EU and AU to trade lower as the correlation is quite strong. A neutral approach to the Yen pairs is wise as arguments can be...

07:20

The_Modern_Day_Trader

Price has been range-bound since the initial update but after respecting the range highs over today's trading sessions and rejecting the 1H FVG, we could be due an impulsive leg lower. That being said, we have been respecting dynamic support with the 4H constantly rejecting range lows so considering the HTF with the daily primary swing not yet in EPD, there are...