Debriefing Monday 27th June and Todays Journal
Links and News
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Need to know market risk @ FinancialJuice.com
- ECB’s Kazaks: Worth looking at 50 bps hike in July.
- G7 leaders agree to study potential price caps for Russian oil and gas – G7 Officials.
- China is optimistic in reducing consumer inflation – NDRC.
Tuesday’s Data
Mondays Profile ( Promise I didn’t copy and paste from yesterday:)
Monday’s Price Action Review
Sunday/Mondays’ ONOvernight Session More began with an initial strong impulse onOvernight Session More the open to test the Friday high of 3919.75 was followed by a push-back down and an attempt to break below 3895. Much like Friday ONOvernight Session More action sellers act the ammunition and buyers pushed the auction higher to encroach the spike highs left from the 10th June Auction. This is an important reference area and we are observing the spike base and high 3943 and 3960. The ONOvernight Session More high was 3948 and the low 3895 just above Friday VPOCThe POC or Point-of-control is the price where the most amou... More 3890. During the RTHRegular trading hours. The official opening and closing time... More handover, there were signals that buyers were not quite as aggressive as Friday (notably the PB from highs were deeper. This was tweeted along with yesterday’s plan. ( noticing this nuance makes all the difference). RTHRegular trading hours. The official opening and closing time... More handover and the open was 3928.
The drop onOvernight Session More Monday opened quite forceful briefly testing the pre-open Zipper 3931.75 before dropping to 3893.25 bang in the middle of the ONOvernight Session More Low and Fridays. Buyers find their appetite and the auction is chopped all the way to within 3 ticks of the day HI 3929. Sellers were defending the opening price and they succeded not once but twice before the auction reversed to test the other side of the day’s balance. The opening lows were broken and the IBInitial balance in the futures is traditionally the first ho... More stat is confirmed (97% of IBInitial balance in the futures is traditionally the first ho... More are broken). But broken by a single point 3892.5.
TOP TIP: Once we see large counter rotations early onOvernight Session More in the auction start thinking could be 2 way action/balancing.
What information can we take from Monday’s consolidation/balancing day?
Sellers (supply) are found at the opening price. 3929 OBSERVE FOR CHANGE
Buyers (demand) are found above Friday VPOCThe POC or Point-of-control is the price where the most amou... More and ONOvernight Session More lows 3892 OBSERVE FOR CHANGE
B-Profile Day majority of volume was accomplished in the lower range of the day. Watch that bottom!
Don’t trade VWAPThe VWAP or Volume-Weighted-Average-Price is a moving averag... More onOvernight Session More days like today
A very bottom heavy normal distribtion, Consolidation Day, Daily & Weekly OTFUOne time frame up. More ,
H: 3931.75 L: 3892/90 VPOC 3905 VWAP 3909 MID: 3912 SETTLE: 3905
MONITORING: 3892- yLoPrevious days lowest print. More | 3905 -vPOC| 3931.75-yHI | 3943 & 3960-10th June Spike | 4016 -Gap
REMEMBER MONTH END THIS WEEK!!
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“You do not rise to the level of your goals. You fall to the level of your systems.”
― James Clear,
Trade Well And Prosper.
BT
