$USDJPY MMBM, Classic Buy Day
Weekly profile
The low or high of the week tends to form 70% of time on Tuesday.
After a trending Monday trading down aggressively, price swept a major daily low (October, 1) on Tuesday, in the London Open session.
Note that price started consolidating after taking the major key level. When price starts consolidating, a new buy or sell program will unfold relative to order flow.
On Tuesday price broke above the consolidation, trading higher and leaving a Fair Value Gap (blue lines). While trading down into the +FVG we’ve also created an +OB (thick blue line). This is what I was interested in, in the next London Open session.
Daily profile
With the London Open session on Thursday, it looked like the low of the day was set, right at the start of the session.
After price came back above the midnight opening price and did a small retrace, I took my buy position in the small +FVG (yellow box).
Summary:
Tuesday Low of the week (Weekly profile, H1 POI)
Wednesday Rebalancing an imbalance (+FVG)
Thursday Classic Buy Day (Daily profile, 5m Entry)
Credits: The Inner Circle Trader
