This is a chart from Feb 16th - March 10 with Vol profile composite just to have a clear image of the HVN & LVN.
This is a composite vol profile from Jan 18th - March 10
What do we know?
- we are in a HVN where we see acceptance and value here
- VAH=1143.00; VAL=1136.50; POC=1139.50
to the downside:
- single prints from yesterday 1135.75-1134.00
- single prints from March 03 1132.25-1131.00 & 1129.00-1126.00
- NPOC=1133.25 from March 03
- initial S=1136.00; S=1132.50; Strong S=1126.00
- be aware that along the way we could find other areas of intra-day S
- O/L=1137.75
to the upside:
- single prints from yesterday 1145.00-1145.25
- initial R= 1143.00=LVN; R=1145.25=LVN; Strong R=1147.25 HOY
- O/H=1142.25
Remarks: - initial R=1143.00 it's the same level as VAH
- initial S=1136.00 it's almost same level as VAL
- VA from volume profile is inside VA from MP
- VPOC almost as POC
Note: - 2:00 PM - Federal Budget Balance - medium impact
My trading plan is to not have any bias, just let the IB to form, observe price action and fine tune the entries around my levels. I might consider taking a trade during the first hour if we'll trade around a major level and I'll have confirmation from order flow & price action.
Patience, discipline & executing my plan is my main focus for the day.
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