Being in an uptrend with a high probability to take out the high of the year at 1147.25, maybe sometime this week maybe not, and starting to build value above 1126 area which is an LVN, LVA, rejection & responsive buyers area, held as strong S Friday, I'm expecting to hold as a strong S Monday as well and I'll be looking for long ops if we'll trade down in this area.
On the upside we have initial R=1138.75 high of Friday and 1139.50=LVN=rejection area. Next possible target on the upside is strong R=1144.00 & 1147.25. Don't forget NPOC=1143.75.
If we trade below 1126 I'm gonna look for short ops but with tighter stops and T1=1122.75 next S area & WIBH, or if the order flow and momentum confirm T2=1119.50=NPOC from 04.03.2010.
If we'll gonna have a range day I'm gonna try to short VAH, R, IBH, dVAH and take profits in the middle of the range or if the order flow confirms take profits and reverse to long at VAL, S, IBL, dVAL.
Note: -that we have single prints at 1135.25 and starting at 1132.25=VAL=S till 1131.00 & from 1129.00 to 1126.00=strong S=LVN.
Note: no major news, no catalyst, so there are higher odds for a range day.
No comments:
Post a Comment