Midnight Opening Price Ideology: EUR/USD Example
Hello traders!
Here I have annotated the Midnight Opening Price (M.O.P) for last weeks trading sessions.
You can observer that the market when trending up tends to move below M.O.P between the
London Session and New York Session.
Typically we see London create the low of the day and New York will give a continuation pattern, with some
order block theory or gap theory or O.T.E setup.
The same can be said inverse when trending down in price.
Here price has filled a Higher Time Frame fair value gap on the daily time frame.
Price has went above this premium pd array and has returned back into 50% of that gap.
Price also looks to give some consolidation when price nears 50% of the gap. Noted towards the end of Friday's Asian Session into Monday's Trading day and back into Tuesdays Asian Session; Price tends to consolidate.
Today Aug. 31st, Tuesday price make it's high of the day during the New York Session and not the London Session.
Could New York Session creating the high of the day once reaching a HTF PD array correlated? I would have to do more backtesting and observations.
Further more, yesterdays trading day was in tight consolidations, and expanded during the Asian Session and party into today's London Session. It could be possible the New York High made a key high of the day to take a high out that was near or fake traders long.
Im currently anticipating the high of the day to fall in London and New York gives a continuation pattern short.
I see some lows that can be taken out to trap traders short then a pull back to FVG or order block for the high of the day. From there price should displace lower.
Here I have annotated the Midnight Opening Price (M.O.P) for last weeks trading sessions.
You can observer that the market when trending up tends to move below M.O.P between the
London Session and New York Session.
Typically we see London create the low of the day and New York will give a continuation pattern, with some
order block theory or gap theory or O.T.E setup.
The same can be said inverse when trending down in price.
Here price has filled a Higher Time Frame fair value gap on the daily time frame.
Price has went above this premium pd array and has returned back into 50% of that gap.
Price also looks to give some consolidation when price nears 50% of the gap. Noted towards the end of Friday's Asian Session into Monday's Trading day and back into Tuesdays Asian Session; Price tends to consolidate.
Today Aug. 31st, Tuesday price make it's high of the day during the New York Session and not the London Session.
Could New York Session creating the high of the day once reaching a HTF PD array correlated? I would have to do more backtesting and observations.
Further more, yesterdays trading day was in tight consolidations, and expanded during the Asian Session and party into today's London Session. It could be possible the New York High made a key high of the day to take a high out that was near or fake traders long.
Im currently anticipating the high of the day to fall in London and New York gives a continuation pattern short.
I see some lows that can be taken out to trap traders short then a pull back to FVG or order block for the high of the day. From there price should displace lower.
