pre market plan:
open inside yesterdays value area. With the trend day breakout yesterday, would be logical to look for a range day today, possible inside day before continuation higher. while it is most important to buy weakness in a srong market, will prefer to look for long opps with a pullback. decent resistance with the o/n hi's confluent with 3 day vah, WR2, & MR2. just above we have YR2 & DR1 @90. Below yest value area, single prints at 77, support could come into play around weekly vwap as we fill in yesterdays short covering profile. market obviously o/b but that hasn't meant much lately. AS always, will study tick, if prices reach zones.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).
OK, trade happened to work out, unfortunately dumb ass me set a market order while intending to place a stop limit at new daily hi's. ended up losing a pt. Anyway, close to target now ib hi, 50% retrace of the day range & val. might be too much to ask for. got to eliminate these brain fart mistakes, could blame it on trying to get used to a new platform & dom. but no, more than a month into is no excuse. out
I'll chip in here as I am pleased to see someone discussing the $TICKS. The breadth divergence today infers a morning retest of the 1585 SPX level in the absence of a meaningful overnight catalyst. If 1585 SPX is not touched in the morning, and especially if 1590 SPX is held bid, then 1600 SPX into the close is the logical scenario.
The following 2 users say Thank You to horton for this post: