I took my 2k euros shorting EU and GU and I'am done for today. Major news expected after few minutes.
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Auction Market Theory and Market Profile
- #23,942
- Nov 10, 2023 8:57am Nov 10, 2023 8:57am
- Joined Jan 2018 | Status: Trader | 17,298 Posts
{quote} Hi katte may be i'm wrong ... coz today is the friday just look for some pips ..
Coming towards the end of the week, EURUSD seems to be creating a textbook balanced distribution / 'D' market profile, with value in the middle of todays trading range. 
There are a few volume clusters highlighted around the high/low of the profile, these can be strong S/R areas.
That aside, if price obeys this trading range into the close;
I'll be waiting to see if we create an opening range within todays (Friday 10th) value area on Monday morning. If so, ill begin the week with a responsive activity mindset unless something changes or causes price to quickly become unbalanced, in which case I may switch to an initiative activity trading style.
There's several ways to play this mindset/market, all of which require additional confirmations (additional source of edge). You begin looking for responsive activity by utilizing order flow, price action etc on and around areas of interest to market participants, these include;
There are a few volume clusters highlighted around the high/low of the profile, these can be strong S/R areas.
That aside, if price obeys this trading range into the close;
I'll be waiting to see if we create an opening range within todays (Friday 10th) value area on Monday morning. If so, ill begin the week with a responsive activity mindset unless something changes or causes price to quickly become unbalanced, in which case I may switch to an initiative activity trading style.
There's several ways to play this mindset/market, all of which require additional confirmations (additional source of edge). You begin looking for responsive activity by utilizing order flow, price action etc on and around areas of interest to market participants, these include;
- Prior day's/week's high (also month though less common)
- Prior day's/week's low (also month though less common)
- Volume/Market Profile Value area highs
- Volume/Market Profile Value area lows
- Volume/Market Profile P.O.Cs (Although I use them for targets rather then entry's majority of the time)
- Volume clusters within a days/weeks volume profile.
In any event, we must be patient and keep an eye out for any important news and be fully prepared for next week, trade safe.
Seeking Fair Value
Coming towards the end of the week, EURUSD seems to be creating a textbook balanced distribution / 'D' market profile, with value in the middle of todays trading range.{image}{image} There are a few volume clusters highlighted around the high/low of the profile, these can be strong S/R areas. {image} That aside, if price obeys this trading range into the close; I'll be waiting to see if we create an opening range within todays (Friday 10th) value area on Monday morning. If so, ill begin the week with a responsive activity mindset unless something...
Don't ever get caught off guard. These are the most important data releases next week:
Seeking Fair Value
- #23,950
- Nov 13, 2023 11:10am Nov 13, 2023 11:10am
- Joined May 2010 | Status: Trader | 2,693 Posts
GBPUSD H1 ....long set up {image}
