Relatively quiet looking morning trading inside value for more markets - not unsurprising given CPI tomorrow, we could see a rotational low volume type of day.
EURO Futures (6e, sep)
Daily TPO - Opening right on the previous day POC, we will be watching on the open if we can remain within the value area and reject from the VAH marked in green.
AM TPO - After selling off yesterday we can see the open this morning at the AM session POC. The bias remains to the downside as long as we remain within the value area from the previous day.
GBP Futures (6B Sep)
AM TPO - as per AMT price is moving higher away from the value area however it will run into some issues shortly. AM session naked POC and single print on the daily chart should bring the market the a halt given the liquidity on the heatmap - we will be expecting a reaction upon any spike higher.
Daily TPO - Previous day single print looks likely to be swept with liquidity sitting right above it. We will look for short potential once this occurs.
Heatmap - the red arrows indicate where large resting orders are sitting, as we can see they are just above the highs from last week. A push into here could fuel another sell off if we were to hold.
Comments