【11/3 Morning EUR/GBP】Moves within the range of 0.83234 to 0.83631, ends Monday in the 0.834s｜Market structure and the latest targets seen on LIGHTHOUSE
About LIGHTHOUSE
LIGHTHOUSE (Lighthouse) automatically displays the chart's "reading" sectionas an auxiliary indicator for discretionary trading.
・Show the direction of the higher time frame and the current bar in five levels at the top-left of the chart
・Automatically display updates of highs and lows (HH/HL/LH/LL) and lines for BOS/CHoCH
・Display zones for pullback and retracement, support-resistance reversal zones, and range boxes
・The peaks and valleys are confirmed before appearing and do not move or disappear later (no repaint)
・Definitions of terms are shown at the bottom left of the chart, so you can learn while looking
Trading decisions should be made by yourself, and this tool helps you gather decision-making material at a glance.
Key points: Euro-Pound market memo up to the close on Monday, November 2
・High on September 250.86121to the low on October 300.83212fell to, then on Monday, November 2, the high0.836310.83631has retraced toto 0.83631
・The close on Monday, November 2 is0.83419(high 0.83631 / low 0.83234)
・The upper levels are0.83631・0.83641, the lower levels are0.83234・0.83212, which are the price ranges most likely to be watched
1. Recent Market Feel (Weekly/Daily/1-hour)
Weekly: from the week of Sep 21 at 0.85978 to the week of Oct 26–30 at 0.83278, five consecutive weeks of closing prices decline
Weekly close prices: Sep 21 week 0.85978; Sep 28 week 0.84961; Oct 5 week 0.84595; Oct 12 week 0.84322; Oct 19–23 week 0.83646; Oct 26–30 week 0.83278. In the week of Oct 26–30, the high was 0.84014 and the low 0.83212, closing about 0.0037 lower than the prior week. The new week moved between 0.83234 and 0.83631 on Monday, Nov 2, and closed at 0.83419.
Daily: fell to 0.83212 on the 30th, then rebounded to 0.83631 on Nov 2 to 0.83419
On Oct 26 (Mon), traded from 0.83720 to a high of 0.84014, closing at 0.83733; on 27 (Tue), traded from 0.83592 to 0.83766, closing at 0.83593; on 28 (Wed), traded from 0.83587 to 0.83801, closing at 0.83668. On 29 (Thu), traded from 0.83444 to 0.83719, closing at 0.83555; on 30 (Fri), moved from a high of 0.83641 to a low of 0.83212, closing at 0.83278. On Nov 2 (Mon), moved between 0.83234 and 0.83631, closing at 0.83419.
1-hour: from 0.83234 at 0:00 to 0.83631 at 15:00 on the 2nd
On the 30th, after hitting a high of 0.83641 in the 4:00 hour, it fell to 0.83212 by the 17:00 hour, ending at 0.83278 at 23:00. On the 2nd, after a low of 0.83234 at 0:00, it rose to 0.83631 by 15:00, then declined to end at 0.83419 at 23:00.
Noticeable price levels (based on chart facts)
| 0.83641 | High of the 30th (4:00 hour) |
| 0.83631 | High of the 2nd (15:00 hour) |
| 0.83419 | Close on Nov 2 (Mon) |
| 0.83234 | Low on the 2nd (0:00 hour) |
| 0.83212 | Low on the 30th (17:00 hour) |
Ahead of economic releases and speeches, price movement is often larger, so please check the schedule yourself. The numbers in the text are up to 23:00 server time on Monday, Nov 2 (chart images include a few bars up to 0:00 on Tuesday the 3rd).
2. When you view the same chart with LIGHTHOUSE
From here, we will view the same Euro-Pound chart with LIGHTHOUSE applied.
Daily (upper time frames: Weekly): Weekly shows strong selling, daily shows neutral
Top left shows the direction of W1: strong sell and D1: neutral. After HH appeared in the Sep high area,HHthe daily bars moved downward through October, and the price is in the low range within the displayed area.
Above the price, around 0.859–0.861,support-resistance reversal zoneis displayed. The current price is well below this zone.
1-hour (upper time frame: daily): both daily and 1-hour are "neutral"
Top left shows D1: neutral and H1: neutral. In the 17:00 hour of the 30th, a valley hasLL, in the 21:00 hour a peak hasLH, in the 0:00 hour of the 2nd a valley hasHL, in the 15:00 hour a peak hasHH.
Above the price, around 0.8361–0.8364, there is asupport-resistance reversal zone, below it around 0.8329–0.8333 there is aretracement zonedisplayed. When the upper frame is neutral and the current bar is selling, you can watch which bar moves first to switch.
