GBPUSD long on demand 2897, big ass soak, someone offloaded and took solid long there on MM side. Going with this one with tight stop and aiming for 3 R if possible.
Also long YM as well, soaking there too.
US30 to target, toook YM long gains (correlated play). EURJPY was a bit too aggressive on loss cutting as it hasnt yet passed initial 50% distance, but decent trade either way. 3 R gain in total on those.
{quote} Good question, the answer is yes. Basically all the variables you explained (however they dont need to align that much) but i would only take a play with confirmation of tape, using futures and soaking / absorption as the guide, the tape has to confirm that buyers have been using a lot of fuel without making any significant advance on the price, compared to previous moves of bears, confirming that there has been limit order soaking by offloading sellers. The basic structure fits to what you said, but tape has to be there otherwise i would...
EURJPY bounce play long. / still holding GBP long. EDIT: Gold long. 1306.4
Ignored
EURJPY gave two perfect bounces, sold for 1.5R . GBP long sold for 2 R, Gold did not get fill. GBPJPY sold some in loss some in gain, BE aprox (same mistake as with upper EJ too aggressive cutting above 50%). Very active session for first day of the week, plenty setups to make for whole week, not all Mondays are cheap and weak.
Holding OTLK pre market shorts from 1,26 on bs news, insider filling report for 25k shares (insignificant) big spike, and huge amounts of warrants present on stock above 1,00 USD, so plenty supply to hit the stock.
EURJPY possible pop of macro supply, on watch micros for longs. GBPJPY at same time on watch for correlated play on bounce long from previous supply takeout.
EURJPY possible pop of macro supply, on watch micros for longs. GBPJPY at same time on watch for correlated play on bounce long from previous supply takeout.
Again to point out, liquidity is important, spreads should be tight, if they arent, its unlikely the MM activity is present (needs ECN broker to validate).
EURUSD some chance that lows might be overrun, larger sellers have been offloading for a while, if buyers dont show any size this can fade trough. Will consider short if it pops.
EURUSD some chance that lows might be overrun, larger sellers have been offloading for a while, if buyers dont show any size this can fade trough. Will consider short if it pops. {image}
Ignored
4 R gain in total, took smaller size due to correlated play.
(binned per thread starter's request) Market bottom rotation trad
