#US30 #DailyReview #DailyOutlook
The housing numbers came in slightly off but close to the expectations. Three things are happening in the market right now when it comes to the news:
1. Bad news, but News that is not that bad it's OK for the market to move bullish.
2. News that's coming in just OK, the market is taking that as a positive and still moving in a bullish direction. Even if the news is negative but close to expectations the market is taking it as a positive.
3. When we get positive news, that beat expectations, the market is overly reacting to the news and doing numbers that are way above expectations.
8:30am
USD
Building Permits
1.45M 1.47M
USD
Housing Starts
1.35M 1.36M
We took out the PDHs from Thursday, Wednesday, and Tuesday and we also tapped into a PWH 8/28. We only tapped into the high and didn't put a candle through the high so that high is still valid and definitely something we’ll need to look for at as a target going into next week. The price is very bullish right now, we only took out one PDL Wednesday's low outside of that we only managed to range near the high of the week.
(Yesterday’s Setup that played out) #1 Still left from yesterday are the PWHs and now the PDH. We are stalling at the moment so it may be a better chance to buy from the LTF if we get any short term highs taken out with a FVG/OB combo.
This set up played out mostly, but a lot of it took place during the London session in Tokyo/Sydney session. During the New York open session, we actually sold off, and I thought we may push down to take out Thursday’s PDL. However, I didn't mark this up but, there was a 1H+FVG that was created during the New York close session and we traded down to this gap during the New York session and price held there.
#1 Look for the buy setup details on the Weekly Outlook chart Sunday
#2 Look for the sell setup details on the Weekly Outlook chart Sunday
1H chart
The housing numbers came in slightly off but close to the expectations. Three things are happening in the market right now when it comes to the news:
1. Bad news, but News that is not that bad it's OK for the market to move bullish.
2. News that's coming in just OK, the market is taking that as a positive and still moving in a bullish direction. Even if the news is negative but close to expectations the market is taking it as a positive.
3. When we get positive news, that beat expectations, the market is overly reacting to the news and doing numbers that are way above expectations.
8:30am
USD
Building Permits
1.45M 1.47M
USD
Housing Starts
1.35M 1.36M
We took out the PDHs from Thursday, Wednesday, and Tuesday and we also tapped into a PWH 8/28. We only tapped into the high and didn't put a candle through the high so that high is still valid and definitely something we’ll need to look for at as a target going into next week. The price is very bullish right now, we only took out one PDL Wednesday's low outside of that we only managed to range near the high of the week.
(Yesterday’s Setup that played out) #1 Still left from yesterday are the PWHs and now the PDH. We are stalling at the moment so it may be a better chance to buy from the LTF if we get any short term highs taken out with a FVG/OB combo.
This set up played out mostly, but a lot of it took place during the London session in Tokyo/Sydney session. During the New York open session, we actually sold off, and I thought we may push down to take out Thursday’s PDL. However, I didn't mark this up but, there was a 1H+FVG that was created during the New York close session and we traded down to this gap during the New York session and price held there.
#1 Look for the buy setup details on the Weekly Outlook chart Sunday
#2 Look for the sell setup details on the Weekly Outlook chart Sunday
1H chart
