Price Action Session Notes

Date and Time

• September 11th, Friday, 2:30 a.m. Eastern
• Pre-London hours

Agenda

• Review economic events and market sentiment
• Analyze price action and market structure
• Develop trade ideas for the London session

Economic Events Overview

• UK GDP Figures
  • Released at 2:00 a.m., fairly neutral
  • Manufacturing output better than expected
  • GDP on three-month and yearly basis below expectations
• US Core CPI
  • Scheduled for the morning

Headlines and Market Sentiment

• UK Finance Minister Sunak expresses concerns over future months despite positive current figures
• UK Office for National Statistics reports:
  • Car sales are exceeding pre-crisis levels
  • Trade balance and construction output improving
  • Manufacturing and industrial output showing gains
  • Education sector growth with children returning to school
• Market Sentiment: Neutral to slightly positive based on UK economic data

Trade Analysis

GBP/JPY (GJ)

• Current structure: Bearish with signs of corrective action
• Key Levels:
  • Support at 135.5
  • Resistance at 136.5 and 136.8
• Market structure: Lower timeframe bullish signals, hourly candle analysis for potential corrective buys
• Trade Ideas: Look for corrective buys if maintaining structure above 136
• Cautious of Brexit-related negativity

Gold

• Buyers showing impulsive actions
• Resistance at 1945
• Trade Ideas: Buy breakouts above 1945 or sell below 1939.5

Euro/USD (EU)

• Short-term bullish structure, needs to break 1.8400
• Key Levels:
  • Buy above 1.8400 if confirmed by US dollar weakness
  • Avoid sells below 1.76 due to strong buyer bounces

Observations

• Scalping requires attention to lower timeframes and market structure
• Importance of monitoring economic headlines for trade impact
• Use of key levels for entry and exit points

General Advice

• Stay patient and wait for confirmations
• Manage risk effectively and avoid overtrading
• Keep an eye on news and data releases for potential market movers

Summary

The session focused on observing market structure, analyzing key economic data, and looking for potential scalp trades in GBP/JPY, Gold, and Euro/USD. The importance of understanding market sentiment and structure was emphasized, with real-time adaptations to news and data impacting trade decisions.