EURUSD: First green day

31 maj

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“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

• Monday DAY 1 Opening Range
  
• Tuesday DAY 2 Initial Balance
  
• Wednesday DAY 3 (reset DAY 1) Mid Point Week
  
• Thursday DAY 2
  
• Friday DAY 3 Closing Range ✅ no cycle defined
  

2. SIGNAL DAY

• First Red Day
  
• First Green Day ✅
  
• 3 Days Long Breakout
  
• 3 Days Short Breakout
  
• Inside Day
  

3. WEEKLY TEMPLATE

• Pump&Dump
  
• Dump&Pump ✅
  
• Frontside ✅
  
• Backside
  

4. THESIS:

• Long: primary, short traders still in profit from Tuesday, possibility to complete the weekly template of dump and pump.
  
• Short: secondary, giving a look at the previous 2 weeks, this market can also complete a monthly pump and dump, possible scenario considering that today is the end of the month. I will also take in consideration this scenario because yesterday the market placed a lower low into the LOW and pumped back up.
  

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

31 maj

Uwaga

Beginning of the session I will update the Daily overview, however, not trade will be taken before 8:30am NY time, thank you traders!

31 maj

Uwaga

Daily overview


Waiting for major red news..
LOD in place, higher high at previous HOD

31 maj

Uwaga

The market exploded with news release, no entry opportunity identified.