Debriefing 2nd June 2022 and Today’s NFP Plan
Links
Images can be found onOvernight Session More Twitter
Need to know market risk @ FinancialJuice.com
Data
Yesterday’s Market Profile and Price Action Debrief
The ONOvernight Session More auction was balanced, remaining within the lower distribution of yesterday’s auction. Given the previous afternoon’s balance this added significance to this area. A break of this consolidation zone could lead to a significant uncoiling of positioning and it would be important to look for continued balance or change. The ONOvernight Session More high was 4128, and the low was 4083.5.
The handover into the RTHRegular trading hours. The official opening and closing time... More session was a few points below the previous close @ 4099, which was immediately tested, only for sellers to aggressively attack the ONOvernight Session More lows. Importantly the auction quickly reversed back to just below the open. This was a critical early clue because both buyers and sellers have demonstrated a weak hand by failing to penetrate LTF references such as the prior close and ONOvernight Session More low. Potential Chop given the prior afternoon chop.
Indeed this choppy PAPrice action More continued whilst below yesterday’s VPOCThe POC or Point-of-control is the price where the most amou... More @4103 and the lower quartile before shorts folded as passive buyers again were found at the prior gap More from 27/5. The final straw for shorts was a high-volume failure to trade through yesterday’s lows that then attracted buyers impressively squeezing the auction from low to closing high @ 4176 ending the OTFDOne time frame down. More. Auction now trading onOvernight Session More the edge of the 4-day balance area high.
Watch to see if the trend breaks of 4-day balance area and monitor for any PB back to the spike base @4164 and the singles @4137. Buyers will be looking at 4202 and 4216 singles as HTF targets.
‘Absorption-Breakout’ Multiple Singles
4 DAY BALANCE, OTFDOne time frame down. More DAILY (4175.75) & WEEKLY OTFUOne time frame up. More (3872), NEW MONTH BALANCE
(Was today a trend day?)
HI 4175| L 4072.5 | VWAPThe VWAP or Volume-Weighted-Average-Price is a moving averag... More 4124 | VPOCThe POC or Point-of-control is the price where the most amou... More 4175 |PCLS 4175| RANGE 104
Realistic Targets Given Current ATR
UPSIDE: 4183 | 4200| 4220 | 4250| 4274| 4303
DOWNSIDE: 4136 |4122| 4108 | 4071| 4054 | 4031| 4015 | 3990 | 3972 | 3948 | 3932 |
Yesterday’s Price Action Review
ON Update
No updates or trading for me today as I am taking some family time. Trying to find balance in all areas of my life
Opening Bell
LIVE Journal
No trades today family time.
Quote Of the Day
“Markets are never wrong – opinions often are.” Jesse Livermore
Trade Well And Prosper.
BT
