Debriefing Tuesday 29th June and Todays Journal  MONTH END

Debriefing Tuesday 29th June and Todays Journal MONTH END

June 30, 2022 0 By The Balanced Trader

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  • Riksbank’s Gov. Ingves: If necessary at some point, we will hike by 75 basis-points.
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Wednesday’s Data

Real Time Economic Calendar provided by Investing.com UK.

Wednesdays Profile
Wednesdays DEbrief and ON outline

Wednesdays Price Action Analysis

Wednesdays Normal Distribution Day

Yesterday’s RTH session Opened inside Tuesday’s liquidation range but not far off the Tuesday low 3823. The ON had barely traded up above Tuesday’s lower distribution High at 3843, leaving the impression of weak demand in the open. 

A lack of initial buying interest on the open at 3830 and a failed attempt to trade above the ON high 3840 allowed sellers to test Tuesday’s lows and then on to attempt to close the well-identified gap from 24/6 @3805. The drive lower was compelling, but traders had to be AWARE OF the importance of the gap high 3805 and the spike bases. 

We trade from one area of balance to the next. We look for resistance and support at the outer edges! 3805 was the edge of balance!

Following the open, a low 3801 just below the gap highs from 24/6 Auction and the high 3840 would set an impressive tennis match between the mid, resulting in one of the most beautiful full session gaussian profiles. I won’t be writing this a lot, A NORMAL DISTRIBUTION! 

Normal Day,  Daily OTFD

H: 3840 L: 3801 MID 3820 VWAP 3820 SETTLE: 3820 VPOC 3820  AMAZING!

MONITORING: 3801- yLo | 3820 -MID| 3779 NVPOC and 3760 ON Lows I 

Tuesdays 3843, 3875, 3920 Distribution nodes |

ON SESSION | Imbalance

The likelihood of a move above or below Wednesday’s session highs/lo was high into ON, given the probability of stops on either side of the bracket and acceptance area. ON we had a significant order imbalance to the downside through the lows of Wednesday to trend into the weekly, monthly quarterly HVN area 3765. Support is found at these lows. Important 3760.75

ON Trend Day, Multi-distribution,  Daily OTFD

H: 3825 L: 3760.75 MID 3793  Lower distribution HIGH 3789

MONITORING: 3760- ON Lo | 3789 – LVN| YLOW 3801/3805|3820

ON Update and Thursday’s Plan

Opening Bell

0830CT I spent the morning talking about 3786 in my new video on youtube. For a number of reasons this number was significant and an area to reference following the ON sessions post CPI. Why was this area important-despite positive news re: Ukraine and PCE data, yields falling, ES supply was suppressing the price. Each attempt to drive the price above the ON HVN failed and early bidders on the RTH open met the same fate as earlier, REJECTION. An Open test drive opening.

Given the fact that ON inventory was short the pull back through the opening price encourage a swift auction to the ON low 3760. Before a brief consolidation to then test above the LVN on the HTF composite profile to a day low at 3741.

Buyers then drove the auction higher in a choppy fashion to break through the IB meeting string resistance at the obvious references 3800 3805 before finally sprinting up to test the POC from yesterday’s auction.

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Quote Of the Day

We should reward people, not ridicule them, for thinking the impossible.” 
― Nasem Taleb,

Trade Well And Prosper.

BT