Long NYO Double Bottom

The Euro double bottomed against the GMT Daily S3 Pivot (1.3531) earlier today.  This double bottom provided an long opportunity that helped me gain +10 on one portion and I still have a trailing portion out there with my stop at BE+1 and a TP of 1.3569.  The 1.3540 level was a level that I marked off on my chart as being high probability.  I'm happy with +10 on the day so if I'm stopped out on my trailing portion, I'll be grateful for what I was able to take from the market.

Euro Shorted 1.3602

The euro approached a key 61.8 fibonacci retracement at 1.3614 of the range 1.3812 - 1.3294. I was able to scalp a 20+ on the entry below.

I'll be watching to see if we get back to the 1.3520 level. That level has been a beast all month.

Long Bias

As you can see in the picture below, crude oil prices are still resting near the 70.5 fib on the higher time frames. As I have been saying, I believe higher prices might be more likely. If not, then the market might be in a higher time frame consolidation.  A, "Seek and Destroy" market profile.

Again, the 93.65 level served me well.

Adapting - Short

I got short and I am currently waiting to take final profits on my trailing portion. 

2. You don't need to know what is going to happen next in order to make money.

                                                  - Mark Douglas

Top of Range - Bullish or Bearish?

As you can see on the weekly chart, price has reached a key support level along with a key fibonacci level. When the week opens we will have a possible power of 3 scenario on the weekly chart. This week I will be looking to get long somewhere below the weekly opening price. Preferably sometime before Tuesday's London open.

When looking at the hourly chart we can see that price broke some old highs then retraced to support at old resistance near 94.20 and may now be gunning for stops above the 95.60 level. I expect that price will react at the 96 big figure level and that there may be a set up to be had there as well.

Long - Bullish Marketflow

Added to my position. I believe that we will challenge the 96.00 level.



It appears that with yesterday's action, a short at the 9540 levels would have worked. You would've had to be quick though.

Long 93.65 Search for liquidity

Is it possible that we have resting stops above the 9540 level? If so then it's possible that the market could spike through this level and return to the range that we've been in this week (9265ish - 9540ish). If we do not return to the range the market is going to head north and I expect the 9620 level to be challenged.

Is it a better short?

Possible Head and Shoulders

It's possible that we could be setting up the H&S pattern. I bought the right shoulder. There is an OTE sweetspot that we traded to.






OTE Sweetspot

Break of 92.65

Got into this trade a little late today. Terrible WIFI wouldn't let me submit an order. I wanted to long 92.65 as it lined up with an OTE fib and an old low on a higher time frame. Took this one off at +117.

Bearish Marketflow

In my previous post, I mentioned that I was anticipating a short term low to buy into.  Unfortunately, the levels where I was anticipating buyers to step in, didn’t pan out. I think it might be likely that we continue to sell off. If not, then the plan is what it was originally.

Long

I'll be looking to buy retracements at support levels I find on the 1-hour and 4-hour time frames. Coincidently, this might be setting up a bullish power of 3 for next week.
ICT preaches that the high or low of the week is formed by Tuesday's London open. With that premise in mind, I am looking for a short term low to form. Preferably into an OTE Buy pattern.  Since I don't know when (or if) this scenario will play out I can assume that there might be a good short opportunity somewhere that will carry us down to the aforementioned short term low. I don't think we'll break the low we've set for all of Monday's trading but if we do, then I don't think we'll break last week's low. 

You don't need to know what is going to happen next in order to make money. 

                                       -Mark Douglas

Short

As you can see in the picture attached price may have become more bullish when price broke some previous highs.