Debriefing FRIDAY 7th October NF  and Today’s Journal-US holiday

Debriefing FRIDAY 7th October NF and Today’s Journal-US holiday

October 10, 2022 0 By The Balanced Trader

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Need to know market risk @ FinancialJuice.com

Kyiv, other Ukraine cities hit as Putin orders revenge for Crimea bridge
Inflation, early shopping to slow U.S. online holiday spending
BoE doubles the size of bond buy-backs as emergency plan nears expiry
US STOCKS-Futures slip on escalating Ukraine war, dip in chip stocks
U.S. aims to hobble China’s chip industry with sweeping new export rules
U.S. banks cut donations to federal candidates, up Democrats’ share ahead of mid-terms about 3 hours ago

Monday’s Data

Real Time Economic Calendar provided by Investing.com UK.
Friday’s Profile review
Fridays PA review
Fridays debrief and PA

Fridays Debrief 

Friday’s NFP liquidation saw  the auction react aggressively to the downside to trend aggressively back inside a prior 7-day balance zone.  Emotional close  to erasing the earlier weeks aggressive gains that was driven by short covering following overly short inventory from the prior FOMC week that was further fuelled by worries about institutional margin calls.  The auction opened 3714 to close at 3651  after touching a low of 3732  the prior week’s VAL.


ON Sunday into Monday sees a similar pattern to last Monday where further push bellow the Fridays lows has retraced into the RTH  open. I am mindful of a similar setup to last week’s Monday reversal rally and will be looking to see if the gap to the close can be maintained by buyers.  The auction is looking to open in the lower distribution of Fridays DOUBLE DISTRIBUTION  and sellers will want to contain activity below 3670.  Opening ( upper range)  lower distribution above the close where we had seen an inventory adjustment into the close of Friday’s lows.

Update and Monday’s Plan

Plan

Opening Bell

0830CT

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Notable tweets

Quote Of the Day

“A man cannot be convinced against his own convictions, but he can be talked into a state of uncertainty and indecision, which is even worse, for that means that he cannot trade with confidence and comfort.”
― Jesse Livermore,

Trade Well And Prosper.

BT