At the last new ATH I published a suggestion that we had hit a major top. That we might continue down for a while... It happen on a 2 hour chart we are in wave c down. PTs in
blue at Fibonacci levels, with Squeeze stochs changing to strong selling.
These levels match Pivot Point levels S5, S6 and beyond. But i don't expect us to go beyond S6 and stay there...
I think video, I covered an awesome pullback day. Where we could've entered, what the week looked like to me and what I expect next week without doing my weekend analysis.
Last Week :
Last week to start the week we attempted the move under VAL but only had enough selling to break under and come back in which gave us another rotation higher back towards VAH. We needed more supply or stronger sell Volume to come in to attempt a move at the lower Edge. We knew going into the week that we had Supply/Sellers at/over VAH and buyers...
Looks to me like it;s headed up for a day at least. PPI numbers were good.
Remember how I said yesterday that it'll be a much easier trade if teh market gaps down? The gap up sold off then the market bounced back. FDAX is oversold so went long but cashing out tomorrow.
going over the Overnight and morning session looking for clues as to what the market is telling us and how we should be positioning ourselves. always remember we don't want complainers and whiners in our lives. get them out.
Last Week :
Last week Globex opened and pushed out of Value of 5227 - 5066 Range, by RTH Open we were able to make a push over 5207.50 the Edge low but we needed acceptance over 5207 - 04 area and instead selling came in which took us through the Mean and right through VAL of that Range without any buyers being at VAL, instead we got covering and buying under...
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.
...
Bearish, but expecting
a short term bullish move.
Price has reached the
4th standard deviation,
swept the LRLR, then
mitigated the +OB. The
expectation now is an
External -> Internal LQ
move.
Wait/watch for signs of
reversal from the current
poi.
I enjoy any feedback or questions in the comment section.
All opinions are welcome!
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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
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**,...
