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EURUSD M6E/6E Euro


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EURUSD M6E/6E Euro

  #1501 (permalink)
 
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 Big Mike 
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Here is a bigger view of a weekly chart YTD.



Note the VA's and POC's are not exact, I changed resolution to 8 ticks so I could better see each week's value area in the profile.

2224 area (need to re-verify with better resolution profile) looks like a nice level of support to head to, with a CHVN and a naked POC.

Mike

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  #1502 (permalink)
 Traderji 
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I reckon high bid of 2789 by New York close tomorrow.

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  #1503 (permalink)
 
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Is anyone using Initial Balance on the Euro?

If so, what starting time are you using? I am thinking perhaps open outcry of 8:20 AM Eastern?

Mike

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  #1504 (permalink)
 
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 trendisyourfriend 
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Big Mike View Post
Is anyone using Initial Balance on the Euro?

If so, what starting time are you using? I am thinking perhaps open outcry of 8:20 AM Eastern?

Mike

That's what i use (8:20 AM EST) and to date i find it works well enough to my taste. The IB with its multiples proposes a reliable framework to gauge PA in my opinion even more so on the ES. I use the first hour (8:20 - 9:20) with the 1 minute opening range which forms a natural demand/supply zone.

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  #1505 (permalink)
 
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trendisyourfriend View Post
That's what i use (8:20 AM EST) and to date i find it works well enough to my taste. The IB with its multiples proposes a reliable framework to gauge PA in my opinion even more so on the ES. I use the first hour (8:20 - 9:20) with the 1 minute opening range which forms a natural demand/supply zone.

Perfect, thanks!

Mike

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  #1506 (permalink)
 
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A quick look at IB on Euro:



I am discussing it more in the Volume Profile thread.

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  #1507 (permalink)
 
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Nice gap on euro, looks like we could be heading back into this channel.



Mike

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  #1508 (permalink)
 
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COT report:



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  #1509 (permalink)
 
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Lots of selling on the Euro all night.





We are at the bottom of the TL. Any buyers here, trying to step in and prevent a gap fill?

Otherwise gap is 80 ticks away and with this selling, seems likely.

Delta is -5000 for the day so far.

Mike

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  #1510 (permalink)
 
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Long from 2612. Figure small risk, good reward, if the TL holds.

If it doesn't I'll wait for gap fill and try again.

Mike

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