New Cable Thread & Other Pairs

NQ just crossed 18.000. It's a trend day so far looking at the volume profile. I think it's either going to end up as a trend day (going even higher) or end up being a P-shaped profile day. Considering this is a Friday and we're at all time highs, I'm not to keen on buying more (I already caught the trend up earlier this afternoon ). My guts tell me there's going to be a ferocious pullback, probably somewhere next week.

I was just thinking. If it ends up being a P-shaped profile. It is likely that the POC will end up high on the profile. Maybe that could be a sign of absorption by sellers, considering we're at all time high?

trader-f1 I will send you zoom link in 25mins

are U doing a zoom today?

Not today, not sure when i will do one again

bro u have been ignoring me, did u forget me?

MNQ - 3M

Attached Image (click to enlarge)

I don't want to be too early, but this looks like the pullback I was speculating about last week.

MNQ - 4H
If this continues I think it will retrace back to the value area and then it'll consolidate there for a bit before it will probably continue the trend up again. However if it can't get out, I think there's a chance we'll see a head and shoulders pattern form and dive even lower, beyond the value area.

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I was also trying to interpret COT data (lagging) and it looks like we're still bullish over the longer term.

COT vs MNQ
Traders seem to agree on the recent prices, as the amount of longs and shorts are similar.

OI vs MNQ
Also the open interest and price has been increasing, which could be interpreted as a confirmation of the bullish trend.


And then we have this week's numbers, we'll see if it all comes together

The latest price spike in the US$ appears to be timed when the US announced a $17 billion dollar beat of the their budget estimate. The estimate was hugely reduced from the previous month as well. This might be playing a factor in price right now.

GBP/USD GAMEPLAN ------- prolly wont be trading this week, still feeling shit... But i like this plan

not feeling to well either hope you feel better bro

gbp/usd ..... managed to get sells built. Need to get my ass to sleep. Good Luck Guys n Gals

GU UPDATE ----- not bad so far but some work to do yet... goin back to bed

Quoting T721
{quote} In other News cad/chf looks good to drop 100pips, justsaying
Slow mover but gotta love the skew

Dont you have any M/W patterns files mate? I think i saw one at your profile few months ago but i can find it now.