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20th March Morning Hypo

EURO Futures (6E, June)

As per AMT, we can expect price discovery higher as we hold above the previous days value area. We are looking for a deep retracement throughout the London session however expect the bulls to remain in control as long as we hold our 'line in the sand level'.


VWAP ANGLE: -20 (Neutral)

Line in the sand for longs: 1.0610 (stops just below to allow for stop runs)


Daily Profile (fig 1)

AM Session profile (fig 2.)

EURUSD candlestick chart (fig.3)

VWAP Renko (currently trading -2SD's around the monthly VWAP)


GBP Futures (6B, June)

Similarly to EURO, we expect high prices on GBP, the question is how deep can the pullback run. You will see the areas of interest highlighted in green in the AM and daily profile where support is well aligned in the form of Daily VAH / AM VAH. If we break down from this I will simply look to the next support level which consists of the Daily naked POC (yellow) and the AM naked POC (red), which are within 10 pips of each other.


VWAP Angle: +3 (neutral)

Line in the sand for longs: 1.2105


Daily Profile

AM Session Profile

Tradingview candlestick chart

The market appears to be making a range with a clean cut support (too clean cut), as such we would prefer to see a deeper retracement for a better value long position (this isn't a buy limit but rather an idea we I will be watching for)

Strategy:

Await deeper pullback on EURUSD / GBPUSD to trade from higher value levels assuming we get confirmation on the footprint. Low probability the first levels on the footprint charts will hold (daily VAH / AM VAH)


Trade Safe.

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