- Small range set from last session into current
- Value area overlapped and down from last session
- POC's basically same and aligned for past two sessions
- Previous session looks like an 'expanded typical day' following the previous session of a 'double-distributed trending day'
Plan for 27th:
- Wait for IB to be set. Could help add clarity as to market type options for 27th
- Consider how price moves out of IB
- Consider a position if price clearly breaks the S4 or R4
- Watch price action around important lines like previous sessions' VAH/VAL, , and current session's S3/4, R3/4
- Watch for candles that signal some type of reversal or direction change at these levels and where buyers/sellers may come in.
Initial Balance = 58 pips
R3-S3 range = 115 pips
R4-s4 range = 230pips
market type possibilities:
'Typical Day' | 'Trading Range Day' | 'Sideways Day' - market would need to continue to trade in the 58 pip range of the IB
'Trend Day' - market would have sold off/bought up early and continue in same direction until session closed
'Double-distributed Trend day' | 'Expanded Typical Day' - both good possibilities. Expanded typical day will probably swing between pivots (3 or 4) while DDTrend day will probably break in one direction.