Guide to Structural Market Analysis Using Volume Profile
Introduction:
Here's a systematic approach to identifying market structure through Volume Profile Structural Analysis. By charting key levels on a higher time frame and refining entry/exit points on a lower time frame, traders can discern potential market movements and adapt their strategies accordingly.
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Capitulation begun from last Thursday and if you was short throughout the beginning of this week, you would be sure to have booked a healthy piece of that explosive movement.
Not one day passed where ES printed bullish on the daily timeframe after last Thursday’s high @ 5257.50. Fridays bearish sell off was met by bullish resistance at the Jan 31 2024 daily...
Buyers came into the S&P 500 late in the session on Wednesday with the lower opening in Asia. Can buyers return to move prices higher to drive the market back to Wednesday highs and that is the expectation.
Working primary count has impulse wave from ATH at 5333.50 to 4963.50. Area in orange ellipse is suspect, so if this count doesn't play out, will likely need to go back and tease out this price action. Corrective bounce off low of 4963.50 appears to be an ABC zigzag. Looking for another impulse wave to complete a C wave or a 3 wave.
going over price action for the day Wednesday April 24th looking for clues to what the market is telling us. trying to put together the entire big picture to form our plan and take the right trades being on the right side of the market.
It sure seems that way. 5126 was the level where buyers would become sellers. It took sellers to become buyers in the first half of the week. Now, I think the market is weakened. Pre-market analysis will be key for trading in the next couple of days. Not a ton of setups today but, just enough to keep the degens going :D
I said yesterday that it would get overbought today and go down. Well, here we are. Made a little money with puts like I said I would.
Indicators now neutral, META earnings probably dictates gap direction tomorrow. Just gonna stay cash and take potshots at the market with options. I'm guessing MFI will cycle fast like it did a a couple of weeks ago, just...
HOW MANY TIMES DO I NEED TO SCREAM 6 1 8??
Short off the PRE MARKET HIGH it's all in PLAIN sight!
Never chasing always LOOKING FOR PREMIUM entries OVER 1k in profits
SHORT when others BUY and hunt deals! I will PAY IT FORWARD
Trading Plan for Wednesday, April 24th, 2024
Market Sentiment: Uncertain, with bulls maintaining control after yesterday's rally but price action becoming more complex after a trend day.
Key Supports
Immediate Supports: 5095-5100 (major), 5082, 5076 (major), 5067
Major Supports: 5056 (major), 5047-45 (major), 5027 (major), 4996-5000, 4966 (major), 4945-49...
Buyside at 5095 has been taken. If we do not drop hard from here and the candles body on the 1h closes above 5102, we think that the next upside target will be 5021 in ESM2024.
The **S&P 500** index has recently confirmed a **head and shoulders** topping pattern, which suggests an **exhaustion of buyers**. Let's break down this pattern:
1. **Head and Shoulders Pattern**:
- The head and shoulders pattern is a classic price pattern that indicates a potential reversal.
- It typically consists of three phases: **setup**, **trigger**,...
