
Debriefing Monday 18th July and Today’s Journal

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- Oil majors may study pumping gas from Algeria for Europe – Total.
- EU Commissioner Hahn: Don’t expect Nord stream to restart.
- Money markets bet onOvernight Session More over 100bps of ECB rate hikes by September.
- ECB policymakers home in onOvernight Session More a deal to make new bond purchases conditional onOvernight Session More next-gen EU targets, EU fiscal rules – sources.
- ECB policymakers to discuss rate hike worth 25 basis-points or 50 basis-points at Thursday’s meeting – Sources.
Tuesday’s Data
Monday’s Profile review

Mondays PAPrice action More review

Mondays Debrief
Sunday reopened 3881 with a solid gap More to Friday’s high 6866.75 and settlement that was quickly closed but no attempt was made to auction below. This gave buyers the green light to grind out a solid gap More in thin liquidity into the RTHRegular trading hours. The official opening and closing time... More open 3898 having seen a high in the ONOvernight Session More session of 3908. The RTHRegular trading hours. The official opening and closing time... More session would open with a true gapAn open where the price is above or below the previous day's... More and GAP RULES More apply.
Open out of range but if buyers were looking for a continuation they were quickly left wondering if the Calvary were coming. An initial weak push to take out the ONOvernight Session More highs 3909 only made it as high as 3905 and the auction would be left hanging inside a tight IBInitial balance in the futures is traditionally the first ho... More range (textbook MP trend day). The IB lowThe lowest value that is printed from the opening 1 hour of ... More was resing above the ONOvernight Session More VAL and given the lack of enthusiasm to take out the Monthly highs at 3922 having come so close meant only one thing- trapped buyers.
The break below the IBInitial balance in the futures is traditionally the first ho... More was deliberate and without response( enough of a PB to give you a very tight and precise entry to the IB LoThe lowest value that is printed from the opening 1 hour of ... More). The groundwork for a long liquidation had been laid from the Sunday opening gap More and the resultant slice through the ONOvernight Session More and Friday range was persistent and unrelenting. There was no PB until the auction had reached within a point of Friday’s Low (Post retail sales and Michigan Lows 3819.75).
P Profile Distribution-Mid 3863
H: 3905 L: 3820 VPOCThe POC or Point-of-control is the price where the most amou... More 3893 MID 3863 VWAP 3871 SETTLE: 3934
MONITORING: 3879- 3863- Singles/Mid | 3920-3800 Gap More|
ONOvernight Session More SESSION | Double Distribution
ONOvernight Session More back-tested higher some of Monday’s liquidation, sellers defending Monday’s singles mid area to reach a high of 3872.75 from an opening low of 3832.
ONOvernight Session More H: 3871 ONOvernight Session More L: 3832 ONOvernight Session More POCThe POC or Point-of-control is the price where the most amou... More 3837
MONITORING: 3879 ONOvernight Session More Hi |3852 Singles /MID | 3920-3800 Gap More|
Update and Monday’s 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
