High Probability Insight: Day-Trade Daily Momentum on M1/M5TF

NZD/USD, H4TF Insight - Potential Harmonic Pattern Formation (Bearish Cypher )






NZD/USD, M30TF Insight - Not much to go on.
( I have failed to take advantage of that upside retracement, way too many opportunities last Tuesday)

EUR/GBP, M30TF - Had a Great Divergence Setup yesterday

GBP/USD, H4TF - A bit risky for a Short Position??




GBP/USD, M30TF - Potential Trend Reversal (Bearish Divergence)




Note: No reason to justify a Short Trade unless we have a SellSignal Trigger on M30TF follows by a
turning point (Bearish Sentiment) where USD becomes Strong and GBP becomes Weak near New York Session.

Trend(H4TF): Bullish ( a bit Weakly Bullish ) - Trend(M30TF) : Bullish

Quick Update on the Current Market Condition:

Quick Scalp on EUR/NZD, M1TF ( +26pip)

Every Trader needs an Edge in the Market.

So, How do you define your Edge?

The Growth Mindset:

Hello Octave
Distinti YouTube managed to grow the account size every week?
I never accieved that target.
Cheers

The Overall Market Trend and Setups before the New Week Ahead:

New Trading Hours moving Forward:










Note: A bit personal, but my mother is in Town for the next 3-4 months, so I decided to re-structure
my trading hours a little so that I can spend more time with her and show her around the City. Despite the
new schedule, I won't be trading during all the hours....

I didn't check the Calendar earlier before placing that trade, I got burned on that News Release....

I was expecting a Continuation to the Downside....

Current Market Condition/Sentiment: (CsDash Update )

Dear OctaveJay509 is your CsDash indicator available to share. It looks great also to detect oversold/overbought pairs

Not a problem Okshop!

Link is Here:

Note: Timeframe Calculations can be Daily or Weekly. Just test them both and see what works best for you....

Current Market Condition/Sentiment: ( CsDash Update )

Note:

Asian Session is just too quiet for me....I don't have that kind of patience to sit there and waiting for
something to happen.

I expect Massive Volatility on Wednesday and Thursday. I might have to grab some pips there to cover
my losses from yesterday...

Upcoming News for Wednesday and Thursday:

US Housing Data:
Building permits stood at an annual pace of 1.17 million in May, while housing starts dropped
to 1.09 million. The figures often surprise in different directions, offsetting each other. When
they go in the same direction, they have a significant impact.
Building permits are expected to rise to 1.20 million and housing starts to 1.16 million.

Crude Oil inventories:
The weekly gauge of inventories dropped sharply in the latest read, but supply is also abundant.
The indicator moves the Canadian dollar but also other markets. There is an inverse correlation
between the dollar and oil prices.

Australian jobs report:
Australia enjoyed a whopping jump of 42K jobs in May, way above expectations. This sent the
unemployment rate down to 5.5%. Another beat could make the RBA change its mind. A more
modest gain of 14.4K is projected and the unemployment rate is predicted to tick up to 5.6%.


Thursday News

Japanese rate decision:
During the Asian session, press conference at 1:30amCST. The Bank of Japan continues its recent
policy of keeping 10-year yields around 0%. Recently it found itself intervening more and more in
order to maintain its target, thus printing more money and keeping the pressure on the yen. While
no change is expected in the policy driven by Kuroda, the updated assessment about the economy
and especially inflation (remains very low), will be of interest.


ECB Rate Decision:
The decision is at 6:45amCST, press conference at 7:30am. In its last rate decision in June, the ECB
described risks as balanced instead of as tilted to the downside. In addition, they no longer mentioned
the option to lower interest rates in their forward guidance.

However, there were no clear hints about tapering, they downgraded inflation forecasts and in addition,
ECB President Mario Draghi expressed frustration about core inflation. Since then, that core inflation
number ticked up and Draghi made his Sintra speech. There, Draghi talked about a shift from deflation
to reflation and mentioned a gradual removal of the stimulus.

This time, no new forecasts are on the cards but reporters and markets would like to know if the ECB
will announce the beginning of the end of its bond-buying scheme, currently set to expire by year-end.
Any optimism about inflation and growth would be euro-positive, while a damp mood by the President
of the Frankfurt-based institution would hurt the euro.


US Philly Fed Manufacturing Index:
This indicator for the manufacturing sector is published very early: this one is for the month of July.
Back in June, the figure beat expectations with 27.6 points. A slide to 23.4 is expected now. While the
sector is small, it is still significant. Jobless claims are released at the same time but remain quite stable.

The Overall Market Trend and Setups before the New Week Ahead:

Potential Day-Trading Setups for this coming week:





Note: I haven't been trading the Asian Session for awhile, and it was a bit difficult for me to get fully active
last week... I realized that I just need to focus more on the Asian Pairs from now on when I day-trade
the market.