Debriefing 31st May 2022 and Today’s Plan
Debriefing 31st May 2022
Long weekend and Holiday ONOvernight Session More (MONDAYS SESSION IS ADDED TO TUESDAYS ONOvernight Session More SESSION) session resulted in a predictable continuation of momentum higher that carried over from Fridays close at the weekly highs. This is coming off the back of a 2-week rally from the year lows. A reversal of the holiday drift occurred at a notable HTF target at 4202 where passive selling absorbed week buying fort the auction to then persistently trend down into the Tuesday reopening. What was notable from the reversal was the ease at which price moved through key references, such as the Friday Close @4157.25 and then down through Fridays VPOCThe POC or Point-of-control is the price where the most amou... More at 4128. OnOvernight Session More Inventory into the open was balanced.
The open onOvernight Session More Tuesday at 4138 was muted, buyers attempted to move towards the large gap More to the prior close, but sellers resumed the preopen trend to auction all the way back to the Friday spike base @4106. Whenever we see a spike, we apply the spike rules to trading. These lows held into positive Chicago PMI data where buyers then attempted to take control of the auction only to fail back down where sellers unconvincingly broke the lows buy a margin of 2 points. A push back through MID and the VWAPThe VWAP or Volume-Weighted-Average-Price is a moving averag... More (held above VWAPThe VWAP or Volume-Weighted-Average-Price is a moving averag... More) to only test and fail at the FS VWAPThe VWAP or Volume-Weighted-Average-Price is a moving averag... More. (Signs of CHOP, 2 WAY Action, trading balance probable). A key piece of information was the time the auction spent holding above or below Fridays TPO ledge @4120, VWAPThe VWAP or Volume-Weighted-Average-Price is a moving averag... More and the Prior months Low @4119. This area was now acting as a clear OU area. A late morning push to break the IB HIGHThe highest value that is printed from the opening 1 hour of... More @ 4142 and quickly push to the prior close 4158 where shorts were quickly rewarded. This area was revisited 3 more times before successfully breaking above to the SZ @ 4168 (Sunday’s Open) before falling back into balance and closing at VWAPThe VWAP or Volume-Weighted-Average-Price is a moving averag... More. This was a very choppy session but the signs were there to avoid getting stuck in a directional mindset. Reversals from key MGI were quick and allowed scales to carry trades through, even if residuals never made HTF targets.
NORMAL VARIATION DAY, BALANCED, OTFUOne time frame up. More DAILY(4102) & WEEKLY(3872), NEW MONTH
HI 4156.75| L 4123 | VWAPThe VWAP or Volume-Weighted-Average-Price is a moving averag... More 4139 | VPOCThe POC or Point-of-control is the price where the most amou... More 4133 |PCLS 4132
Multiple NVPOCThe NVPOC or Naked POC is the same as a POC or VPOC but it h... More bellow @ 4062 | 3945|3885|3830
ONOvernight Session More Session today is trading very balanced inside yesterday’s VA with a high 4153.5 and a low @4123.
Longs will want to stop sellers ending the OTFUOne time frame up. More below 4102.75 and Shorts will be looking at protecting yesterdays highs. Balance rules apply into this session.
