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Daily TPO homework for DAX and NQ


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Daily TPO homework for DAX and NQ

  #631 (permalink)
 shrekchenbin 
UTRECHT/The Netherlands
 
Posts: 644 since Dec 2016
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A false break down in NQ has negated the bearish bias and the upside break of the 3 day's range has been put on the table today.
It is possible that NQ is going to test 7100 today. I would watch NQ closely to see how it interacts the order flow around 7075 level to gauge the underlying strength.

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  #632 (permalink)
Rodoslav
Schaumburg
 
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What timeframe is your profile set on right side of the screen?

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  #633 (permalink)
 shrekchenbin 
UTRECHT/The Netherlands
 
Posts: 644 since Dec 2016
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I would expect the double top weak structure to be repaired in today's session.
If market wanted to sell on the news, run the stops at the high before turning lower is the strongest move.
In the above case, i would not expect the price to probe above 2767.5.

Or it can make a clean break of the high and run into the 2775 liquidity pool.





shrekchenbin View Post
A false break down in NQ has negated the bearish bias and the upside break of the 3 day's range has been put on the table today.
It is possible that NQ is going to test 7100 today. I would watch NQ closely to see how it interacts the order flow around 7075 level to gauge the underlying strength.


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  #634 (permalink)
 shrekchenbin 
UTRECHT/The Netherlands
 
Posts: 644 since Dec 2016
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Looks like a clean break situation.
Then the target 2775 and 2790 as stretch target.
Watch some possible rotation and take profit at 2775.




shrekchenbin View Post
I would expect the double top weak structure to be repaired in today's session.
If market wanted to sell on the news, run the stops at the high before turning lower is the strongest move.
In the above case, i would not expect the price to probe above 2767.5.

Or it can make a clean break of the high and run into the 2775 liquidity pool.



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  #635 (permalink)
 rdaytrader 
Netherlands
 
Experience: Intermediate
Platform: TWS & SierraChart
Broker: InteractiveBrokers & Sierra
Trading: DAX & Bund
Posts: 275 since Jun 2013
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what is according to you 'poor structure'?

today is actually reversing the 300 point down move of last Thursday, quite remarkable


shrekchenbin View Post
What a day it is today!
Look at the poor structure.
Lots of emotion in the up moves. Most of them are short coverings.


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  #636 (permalink)
 shrekchenbin 
UTRECHT/The Netherlands
 
Posts: 644 since Dec 2016
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13 days composite profile.


Rodoslav View Post
What timeframe is your profile set on right side of the screen?


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  #637 (permalink)
 shrekchenbin 
UTRECHT/The Netherlands
 
Posts: 644 since Dec 2016
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I am pointing to the single prints in the TPO profile, which suggest emotional buying or short covering.
Those single prints are usually repaired later after the emotion fades.


rdaytrader View Post
what is according to you 'poor structure'?

today is actually reversing the 300 point down move of last Thursday, quite remarkable


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  #638 (permalink)
 rdaytrader 
Netherlands
 
Experience: Intermediate
Platform: TWS & SierraChart
Broker: InteractiveBrokers & Sierra
Trading: DAX & Bund
Posts: 275 since Jun 2013
Thanks Given: 640
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interesting interpretation.. but according to the theory it's normal for a trend day (like today) to have these single prints


shrekchenbin View Post
I am pointing to the single prints in the TPO profile, which suggest emotional buying or short covering.
Those single prints are usually repaired later after the emotion fades.


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  #639 (permalink)
 shrekchenbin 
UTRECHT/The Netherlands
 
Posts: 644 since Dec 2016
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A false break of the 7050 resistance in NQ.
A sell the news setup is developing there.





shrekchenbin View Post
A false break down in NQ has negated the bearish bias and the upside break of the 3 day's range has been put on the table today.
It is possible that NQ is going to test 7100 today. I would watch NQ closely to see how it interacts the order flow around 7075 level to gauge the underlying strength.


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  #640 (permalink)
 shrekchenbin 
UTRECHT/The Netherlands
 
Posts: 644 since Dec 2016
Thanks Given: 8
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Both ES and FESX has tested their respective key levels of 2780 for ES and 3250 for FESX during light holiday trading.
The rejection or acceptance would have to be confirmed by the cash session trading, I would expect some reaction from those levels.

I would watch closely for the order flows around those levels to gauge the strength of the market.


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Last Updated on March 29, 2019


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