A strong held bid has appeared precisely at 12720. The buyers are defending this level aggressively. But the delta has been negative all throughout this morning. Let's see how long this buyer could hold. Once this is given away, a flush is going to ...

London session market profile preps and journal for DAX

DAX had a consolidation day yesterday. Given the volume being built at this level, we are going to inevitably correct lower to fill in the TPO holes left on Tuesday, or in other words, wash out the weak longs, if it fails to hold a test below 12720. ...

London session market profile preps and journal for DAX

From what I see from the order flow, the buyers are very enthusiastic to the Pound at this price level.

London session market profile preps and journal for DAX

DXY is flirting with 95.20 major resistance. Could this be just a stop run or a major break out? If Euro is able to hold firm at 11680 （here i am talking about the levels in the 6E future not in the spot), we are going to see a failed break out in ...

London session market profile preps and journal for DAX

4. After DAX broke down from the 7 day rising streak, it has consolidated for two days to arrest the long liquidation break. With the selling pressure absorbed at or near 12400, it has broken to the upside on Friday (too bad again that I was not ...

London session market profile preps and journal for DAX

3. 6A/AUDUSD The situation in 6A is quite similar to that of 6E. It has broken the structure to the upside last week, and it was pulling back since then. The consolidation area between 07360 to 07420 has accumulated plenty of volume and value. Once ...

London session market profile preps and journal for DAX

2. 6E/EURUSD Euro has also been bullish. The 11600 level has been robustly defended from end of May. Euro has broken the structure resistance at 11800 level the Friday before last week. Since then it was slowly drifting lower. At the 11680 level, we ...

London session market profile preps and journal for DAX

Weekend prep: 1. 6B/GBPUSD The weekly volume profile bars of 6B looks quite bullish as the 4 weeks long base is finally maturing and it is ready to tear to the upside for a big time. However, the brexit development and some party politics has ...

London session market profile preps and journal for DAX

Technically, there is some demand to correct lower in order to flush out the weak longs that are in position. Thursday's spike was mainly short covering, not much new money taking long DAX. The first target 12500 has been achieved by the market ...

London session market profile preps and journal for DAX

My younger daughter is sick. Again not able to trade today. In fact Thursday's price action was supposed to occur on Wednesday but was interrupted by the US holiday. This was a reaction to the development in the longer term chart. Basically a ...

London session market profile preps and journal for DAX

Guidoisot, I don't take a look at ES just because it is not the leader nor the laggard. The leader at this moment is Russell and NQ, while YM is clearly the laggard. The ES chart is quite boring anyway, which looks like a slower version of YM. If ...

London session market profile preps and journal for DAX

DAX has just tested prior day's value high. Could this be the end of retest or there is more to come?

London session market profile preps and journal for DAX

DAX has been trading in a consolidation range for more than 1 week now. The low of 12100 has been tested multiple times and was confirmed by the price action. Hence the path of least resistance for DAX is to trade to the upside. At this moment, DAX ...

London session market profile preps and journal for DAX

4. What an impressive break out of the two weeks long consolidation range for the CAD. Look at the precise test of 7480 algo big number in the stop run before the break out. CAD is such a heavily manipulated instrument. The footprints of the algos ...

London session market profile preps and journal for DAX

3. People might argue that the Pound trend has been completely dominated by the political development, or the lack of it, in the Brexit negotiation, It might not be the best candidate for technical analysis. However, it reacts to the algo big ...

London session market profile preps and journal for DAX

2. The euro has indeed pulled back in the later part of the week. In fact we were anticipate a quickly pullback into the prior week's POC to look for support. It has instead hovered above the 1.17 level for more than two days, which has created ...

London session market profile preps and journal for DAX

Weekend study note: 1. 6J: Last week I have failed to notice the rejection of 6J at the prior month's POC which has set up a major reversal. It looks like that the 6J is ready to make new low (or new high in USDJPY) now. Below the Apirl, there is ...

London session market profile preps and journal for DAX

guidoisot, The MP chart for 6B is quite strong. Just above the prior day's value area high. And the prior day's profile is a well auctioned consolidation profile with a buying tail. The 6B is as strong as it could get. But it might be a bit late at ...

London session market profile preps and journal for DAX

DAX has made a beautiful reversal base below Wednesday low. That base was much bigger than that of Wednesday's London session low. Wednesday late London spike was just a short squeeze but this time, by looking at the depth and volume built in the ...

London session market profile preps and journal for DAX

Has stochastic ever reliable for DAX? I really doubt it. Watch the 20,50,80 levels for reaction and rotation to see whether the Market maker has achieved its intention or not.

London session market profile preps and journal for DAX