Heading into the open, we're still inside TPO prior value (see yellow area). Scalpers may be able to fade (short) from the top of VAH - particularly after a stop run of prior swing high.
If you're bullish, either wait for a breakout of the yellow area and pullback or wait to fade from the lower part of the yellow rectangle.
Higher timeframe bias unclear, so for scalpers, may be a good opportunity to just play inside this value area and take profits after 1-2 measured moves.
-StoicTraderCoach
If you're bullish, either wait for a breakout of the yellow area and pullback or wait to fade from the lower part of the yellow rectangle.
Higher timeframe bias unclear, so for scalpers, may be a good opportunity to just play inside this value area and take profits after 1-2 measured moves.
-StoicTraderCoach
Trade active
Update: Bull breakout pullback scenario in play. We've spent a long enough time above the yellow area to turn bullish. However, be aware of potential stop run and rejection of yesterday's 47,400 swing high.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.