CFA Trader - Market Profile and Price action analyses

[CFA Trader]

I have previously had a thread on EUR/USD only since this is my main market.
https://www.forexpeacearmy.com/fore...-cfa-trader-eur-usd-trades-predictions-2.html


Since I follow other markets as well I have decided to create this thread.

 

[CFA Trader]

Crude Oil - My video analysis (2013 07 23 Crude Oil Market Profile Price Action analysis - YouTube) from July 23 is still valid.

However it is important to appreciate the current situation around Syria. I have hedged my short position. I expect move around 115,50 and eventually 118. I will close my hedge around those levels.

I do not rule out a violent spike if something goes bad politically or militarily. I will keep eye on this market and eventually hedge again.

 

[CFA Trader]

EURUSD - Market is strange since yesterdays spike to the upside from key support around 1,3325 - 1,3315.

At the moment it occurs to me that price is likely to test below yesterday´s low. Thre is key support around that low so it will be very important what happens around it. We have poor high yesterday, so there is good potential for upside move.

If we do not close below 1,3320 on daily I am more inclined to price rising and testing again into 1,3400 - 1,3415 area.

 

[CFA Trader]

EURUSD - I have changed my medium term bias to short side. Yesterday we broke away from previous medium term Value Area (VA) and broke below 1,3300 with a single print.

Yesterday´s daily VA was established lower which made me change my medium and short term bias to short side. I am waiting for price to get into 1,3280-1,3300 resistance and will look for short trade there.

 

[CFA Trader]

EURUSD - I have posted new video analysis on EURUSD.

Check it at 2013 09 03 Forex EURUSD Market Profile Price Action analysis - YouTube

 

[CFA Trader]

EURUSD - Friday´s data did not bring continuation of downside move. There is poor high at las week´s high. I consider it healthy to be tested, before continuation of downside move continues. I see sideways move as more likely for today, but I do not rule out bigger correction all the way to 1,3300.

I still maintain my medium / long term view that 1,3000 - 1,2900 area should be tested.

I currently hold long position with target at 1,3210. If target is reached I will wait for test of last week´s high and then look for signal to enter into short position at one of the resistances highlighted in the attached picture.

 

[CFA Trader]

EURUSD - we had a nice short squeeze during Monday US session. Yesterday, the short covering continued in my opinion.

I closed my long from Monday´s tweet. I tried to short from 1,3240, but closed the postion for a scratch, since value migrated higher.

At the moment I am long from 1,3261 and I expect test to 1,3300. I am still willing to short there, but I want good confirmation.

 

[CFA Trader]

EURUSD - we had a nice short squeeze during Monday US session. Yesterday, the short covering continued in my opinion.

I closed my long from Monday´s tweet. I tried to short from 1,3240, but closed the postion for a scratch, since value migrated higher.

At the moment I am long from 1,3261 and I expect test to 1,3300. I am still willing to short there, but I want good confirmation.
View attachment 11163

EURUSD - I closed my long position from previous tweet.

 

[CFA Trader]

EURUSD - We have poor high from yesterday and also from today. There is also poor high from August 28. All these highs are candidates for a test and I expect price to test them.

I have short term bullish bias and hold long position. I consider it healthy for price to test at least into 1,3350 - 1,3360 area which I consider a good resistance. I will watch for signs of sellers there. If sellers do not enter there I would expect test above 1,3400 with 1,3420 another good resistance where big sellers could enter the market.

There is poor structure below current price so the risk for downside move is high. I still maintain my medium to longer term bearish bias with potential to test poor low around 1,3100 and 1,3000-1,2900 area of crazy overnight move after FOMC MM release.

 

[CFA Trader]

Not doing anything since Monday. Waiting for big Ben tonight. For EURUSD I still maintain my medium to longer term bearish view with potential to test into 1,300 - 1,2900 area of ineffectivity.

We will know more tomorrow.