calm confidence in unpredictable 29/04

- notes from my trading journal 28/04: - going into today session, based on yesterday big sell off and close near the lows, my bias was negative to neutral; but O/N and premarket profile changed my bias to neutral/positive. Premarket activity showed strength with buyers making subsequent RE to the upside and developing a new distribution. The open was above monthly VPOC@1182.75; also we opened gap up (invisible buying tail). After 2 attempts from sellers to offer the price below monthly VPOC, we had rejection from IBL all the way up to IBH. The news about Spain came out and was the only thing driving price below IBL and below monthly VPOC. The rejection was violent and immediate, reinforcing my positive bias, which made me think about a long (long@1181.75 IBL-exit@1186.50; long@1186.25-exit@1190.50)

- VA was built in the upper part of the profile, close was above VA at the top of the structure, theory a positive/neutral bias (of course need to analyze the Globex session, be flexible, don't forget about the mirage effect)

- dVPOC played again a very important role through out the day, adding confidence in keeping trades to get to my targets. I think it's very important to monitor dVPOC, as it can give you either entry/exit location or can contribute to your confidence if you're in a trade; it behaves differently in a range market than in a trending one.

S/R levels from monthly volume profile

S/R levels from weekly profile

- key areas/levels for 29/04:

1. initial S@1185.00, LVN
2. S1@1182.75 monthly VPOC
3. S3@1177.50 LVN
4. NPOC@1166.00 from 31/03
5. initial R@1192.25 LVN
6. R area 1195.00-1201.00 LVN, singles from 27/04, strong presence of OTF sellers (it will be interesting to observe how price will behave if we trade through this area: it'll pass, it'll be rejected or it'll fill it)

- on the weekly structure, Wednesday is merged, the IB is bearish, we didn't had any RE, yet

- WPOC@1187.75, could act as S level

- WVA is too wide to be taken into consideration

- based on O/N activity i'll gauge how can i use yesterday's VA in my trading plan for tomorrow

- 8:30 unemployment claims, expected better