Market profile prep for Forex majors -
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thread: Market profile prep for Forex majors

  1. #21
    Junior Member Aguswtf12's Avatar
    26
    By taking a second look. The pound has created a big h pattern for reversal.
    In the second leg of this h pattern, it be a retracement leg or it can transcend the prior low for a little.
    My bad I did not even consider this possibility.

    The h pattern is quite common after a big impulse down.
    Following a large urge the bears are often excited and wanted to exchange the second leg into the other hand to capture some continuation. But as the price stalls at the reduced as the work of long liquidation is accomplished by the powerful hands, the feeble hands are trapped. The feeble hands are even more excited when they see that the prior low being taken out.
    But quickly the market manufacturer snaps back to them. Stop loss orders will pop the market much higher from the reduced instant leg where a big bulk of weak hands are trapped.

  2. #22
    Junior Member Aguswtf12's Avatar
    26
    The h pattern may also turn into a three leg wedge that may be traded through Wolfe wave procedure.

  3. #23
    Junior Member Aguswtf12's Avatar
    26
    Another big h pattern is in swiss franc that it has only done a barbarous cease run.
    That stop run has completed the second leg of this h pattern.

  4. #24
    Junior Member Aguswtf12's Avatar
    26
    Throughout the weekI was occupied with all the equity indices. But, there are a few good trades I have missed in Forex.
    The Yen short (USDJPY long) commerce stands out that there's rejection pub on Tuesday from prior week's POC in the direction of this trend. It has tested back to provide another entrance to hop on the fad. But I didn't even give it a bit of attention to this.

  5. #25
    Junior Member Aguswtf12's Avatar
    26
    Pound reacting to the POC of month of March.

  6. #26
    Junior Member Aguswtf12's Avatar
    26
    Looking back the first quarter, Euro had a trend-pause-and-trend profile in Jan.. The month Feb has started in the value traded solely from the value. This has resulted in a neutral profile using a bearish tip. The bearish tilt is due to the selling tail in the top after being rejected in the last month's worth high and POC loed in the lower half.
    The month March are mainly traded in the previous month's worth again with rejection in the previous month's worth high, again. Since the monthly range is becoming even smaller, it has resulted in a balanced profile using thick TPO distributions near the center.
    The balanced profile signifies the energy was built for the next trending move. Because the most recent up move was rejected in the previous day's VAH again, I would bet that the Euro will break out into the down side sometime .
    ThereforeI am going to watch the monthly open carefully next week to find out if there's any sign of downward side break out. Once snapped out, the worth place low and POC are going to be the spot to set your continuation trades so long as the March's VAH hasn't yet been taken out.

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