Here is a bigger view of a weekly chart YTD.



Note the VA's and POC's are not exact, I changed resolution to 8 ticks so I could better see each week's value area in the profile.

2224 area (need to re-verify with better resolution profile) looks like a nice level of support to head to, with a CHVN and a naked POC.

Mike

I reckon high bid of 2789 by New York close tomorrow.

Is anyone using Initial Balance on the Euro?

If so, what starting time are you using? I am thinking perhaps open outcry of 8:20 AM Eastern?

Mike

Big Mike 

Is anyone using Initial Balance on the Euro? If so, what starting time are you using? I am thinking perhaps open outcry of 8:20 AM Eastern? Mike

That's what i use (8:20 AM EST) and to date i find it works well enough to my taste. The IB with its multiples proposes a reliable framework to gauge PA in my opinion even more so on the ES. I use the first hour (8:20 - 9:20) with the 1 minute opening range which forms a natural demand/supply zone.

trendisyourfriend 

That's what i use (8:20 AM EST) and to date i find it works well enough to my taste. The IB with its multiples proposes a reliable framework to gauge PA in my opinion even more so on the ES. I use the first hour (8:20 - 9:20) with the 1 minute opening range which forms a natural demand/supply zone.

Perfect, thanks!

Mike

A quick look at IB on Euro:



I am discussing it more in the Volume Profile thread.

Mike

Nice gap on euro, looks like we could be heading back into this channel.



Mike

COT report:



Mike

Lots of selling on the Euro all night.





We are at the bottom of the TL. Any buyers here, trying to step in and prevent a gap fill?

Otherwise gap is 80 ticks away and with this selling, seems likely.

Delta is -5000 for the day so far.

Mike

Long from 2612. Figure small risk, good reward, if the TL holds.

If it doesn't I'll wait for gap fill and try again.

Mike