
Debriefing 22nd June and Todays Journal

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- Russia: Paid coupons for 2027, and 2047 Eurobonds will be made in Rubles.
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Thursday’s Data

Wednesday’s Market Profile Debrief

P-Distribution, Short Covering, OUTSIDE DAY, In-balance Balance rules apply need to see volume.
H: 3805.5 L: 3719.25 VPOC 3785 VWAPThe VWAP or Volume-Weighted-Average-Price is a moving averag... More 3772.25 SETTLE: 3760.75
MONITORING 3760 (settle), 3745(spike singles), 3720 (yLoPrevious days lowest print. More)and 3785 (yVPOCYesterday's POC or Point-of-control is the price where the m... More)
Yesterday’s Price Action Review
Yesterdays ONOvernight Session More session saw a complete reversal of the short covering rally onOvernight Session More Tuesday that had left a large gap More to the Friday high of 3711.75 (Monday was a holiday counted as ONOvernight Session More). The ONOvernight Session More decline into the EU open was persistent and did not let up until support was found just above 3693 last week’s lower distribution VAH 3691. I think it’s really important to review the weekly profile
In addition to monitoring the previous day's Market prof... More when starting a session and analysing the bigger picture.
[Many were calling in bottoms which may be the case but there is no excuse for chasing short-covering rallies that remains weak. Tuesday Auction never managed to close above the prior week’s HVNHigh volume node, or peak. An area that has been well traded... More at 3775 and close week. ]
The auction pushed up into the RTHRegular trading hours. The official opening and closing time... More handover 3724 (Important look at weekly HTF sheet) just above the Friday Gap More. The RTHRegular trading hours. The official opening and closing time... More open above the prior week’s pivot area 3712-3723 was an important area for buyers to hold onOvernight Session More to as any push below 3712 would liquidate more longs accumulated post-Friday close. More importantly, we were opening out of the prior day’s range ( yLowPrevious days lowest print. More 3735), an open gap More out of range and gap rules More apply. Would buyers attempt to close the gap More and trade back inside yesterday’s range?
It didn’t take long to find out the answer, another responsive open much like Tuesday but the response temporarily stalled at the previous day’s low 3735 before eventually driving higher again. Buyers pushed the auction higher up to the VAH 3798 of the upper distribution of last week’s DD before a PB to the IB midThe middle of the Initial Balance range. More. One final late push and look above the IBInitial balance in the futures is traditionally the first ho... More to create an Outside day with a high 3805. A peculiarly similar P-distribution to the prior day’s RTHRegular trading hours. The official opening and closing time... More session. PAPrice action More into Settlement was weak trading to settle 3760.75.
You need to be looking at your HTF charts to have any chance to build a picture and understanding. We are inside monthly lower distribution HVNHigh volume node, or peak. An area that has been well traded... More. Which is characterised by the last weeks Upper and lower distribution HVNHigh volume node, or peak. An area that has been well traded... More acting as the VA LO and Hi. PAPrice action More in between is fast and fluid as you would expect in balance.
P-Distribution, Short Covering, OUTSIDE DAY, In-balance
H: 3805.5 L: 3719.25 VPOC 3785 VWAPThe VWAP or Volume-Weighted-Average-Price is a moving averag... More 3772.25 SETTLE: 3760.75
MONITORING 3760 (settle), 3798 & 3745(spike singles), 3719(yLoPrevious days lowest print. More)and 3785 (yVPOCYesterday's POC or Point-of-control is the price where the m... More)

TIP: We are in balance and that means don’t expect much more than a ping pong effect onOvernight Session More either side of the net
ON Update
Continuing with peculiar, very similar ONOvernight Session More behaviour with longs liquidating below the upper P-distribution.
US PMI DATA
Monitoring
ONOvernight Session More Lo 3735
ONOvernight Session More H 3797 ONOvernight Session More L 3735 ONOvernight Session More VPOCThe POC or Point-of-control is the price where the most amou... More 3763 VWAPThe VWAP or Volume-Weighted-Average-Price is a moving averag... More ySETTLE 3760
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Quote Of the Day
Obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it, or work around it. – Michael Jordan
Trade Well And Prosper.
BT
