
- open below VA & previous day's range, attracting responsive buyers which drove price back into upper range of Friday
- bullish IB, VA created higher, in the same range as previous week, in the same HVN with S=1157.50 & R=1163.25
- close near the highs of the day, above POC, in the upper part of VA, indicating that the buying power was present from the open through the close
- I made 1 trade for 2 points, very weak result, it's not even worth mention it; I wasn't able to pull myself together after missing the move off the S=1148.50, were I created my scenario for a long, but I just sat there and didn't pulled the trigger
- my levels for tomorrow:
- for every level described below I'll gauge the Globex session, open location & type, possible news and just after that I'll make decisions how to use them
- VAH=1163.00 this is initial R, being in the proximity of the upper R of the HVN where we are trading now
- VAL=1157.25 this is a pretty strong S area which have been established last week, broken but easily reestablished, so IMO it's a good level to go with a break to the downside, or to go long from it on first test
- POC=1159.25
- single prints starting:1157.25-1155.75 (initiative buying)
- R1=1165.00 have been tested 2 times, rejected right away (almost a double top formation) we need to see high volume for the level to be taken out
- R2=1169.00, i see it as a strong R
- if we'll have momentum behind us, like we had in the past 2 days, we might see further upside, fueled by econ news
- initial S=1160.25 proved a nice S specially during O/N sessions, LVN, could be a good location for a long if price gets here, being the fact that price stayed above aafter conquer it
- S=1157.50 almost same area as VAL, in case we'll continue to the upside and price will visit this area could be a good long location
- S=1154.50 strong S=HVN
- i'm not gonna lower with my levels, because of the responsive/initiative buyers I don't expect prices to fall into that area, not today
- econ news: - existing home sales, expecting a bit worse than previous
- we did see pretty good volatility returning to market, so we have to keep this in mind when setting targets for trend trades
- finish the plan after analyzing the Globex & open
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