September 5th - 7:55am
Last night session I stated - "My lean is we grind sideways and up into the 6523 level overnight and then we will need to wait for the employment report and NYSE to try and get some level losses and reclaims to finish the week at our targets of 6547, 6563+."
Our overnight session has been rangebound between 6512 - 6531. Employment report and NYSE open will determine which direction we move. I will be waiting for price to settle down after initial reactions and look for the best levels that I will be looking for a flush and reclaim would be the 6491 level as it was the high of this week during the Sunday evening session. We could dip down to 6473/79 levels and then rally.
I will update around after employment report and around 10am.
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Couple of things about how I color code my levels.
1. Purple shows the weekly High/Low
2. Red shows the current overnight session High/Low (New chart out in am)
3. Blue shows the previous day's session High/Low
4. Yellow Levels are levels that show support and resistance levels of interest.
5. White shows the trendline from the August lows.
Last night session I stated - "My lean is we grind sideways and up into the 6523 level overnight and then we will need to wait for the employment report and NYSE to try and get some level losses and reclaims to finish the week at our targets of 6547, 6563+."
Our overnight session has been rangebound between 6512 - 6531. Employment report and NYSE open will determine which direction we move. I will be waiting for price to settle down after initial reactions and look for the best levels that I will be looking for a flush and reclaim would be the 6491 level as it was the high of this week during the Sunday evening session. We could dip down to 6473/79 levels and then rally.
I will update around after employment report and around 10am.
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Couple of things about how I color code my levels.
1. Purple shows the weekly High/Low
2. Red shows the current overnight session High/Low (New chart out in am)
3. Blue shows the previous day's session High/Low
4. Yellow Levels are levels that show support and resistance levels of interest.
5. White shows the trendline from the August lows.
Nota
8:03am - EST - I forgot to mention that I will be cautious IF we rally after the jobs report into the 6547 and 6562 levels. The 6562 is a strong resistance and I could see us potentially selling off, IF, we reach those levels. IF, price holds the session range and rallies, then sells back inside the 6525-28 level, I would probably get out the way and let price build a base at a lower level. We could flush down pretty good, IF, we rally to the targets and then sell off back into the session high. Nota
8:48am EST - UpdatePrice went lower after jobs report and flushed the overnight low at 6512 down to 6502, then reclaimed 6512. Institutions ran all the stops below the overnight lows and now we are testing the overnight highs for a 3rd time in the session. We will see IF, price has more selling, or we explode through resistance and get to our targets. I can't predict what will happen, but my lean based on price is that we take off higher and keep going during the first 30 mins-60 mins of the open. Again, IF, we now break the overnight highs and then sell off back inside the red level range, I would get out the way and try and catch some points on a bounce and reclaim of the levels I mentioned in the daily trade plan. I did not trade anything as the reclaim happened so fast and I hate gambling. I will long on the breakout and back test of the 6531 level.
Nota
9:01am EST - Update - Took the long at 6532 on the breakout and back test. My stop is at 6529 and will move it up to Break even and take profits at 6547 or whatever price is at around 9:15am-9:20am. I hate holding my position into the open on a big economic number but still believe we rally higher the first hour of the session and reach our weekly targets.Nota
9:20am - Sold my position at 6539.50. Will take 7.5 pts on a day like today. I still believe the targets are in play for those that have a different system than mine. Have a great weekend! Monday and Weekly Plan will be out Sunday afternoon before the open!Nota
10:03am EST - UpdatePrice has dropped back into the overnight session range, any reclaim of 6532 would be bullish to upside. Below, we need to find another level to flush and recover.
Nota
10:13am EST - Update6492, 6478 are 2 good levels to look for a flush and reclaim, IF, price cannot hold 6510 and recover the 6515 area.
Nota
10:22am EST - I said on my note at 8:48am "Again, IF, we now break the overnight highs and then sell off back inside the red level range, I would get out the way and try and catch some points on a bounce and reclaim of the levels I mentioned in the daily trade plan." What happened? We sold off as we came back into the range. I would not get in the way of this selling, but would be bullish for a short squeeze, IF, price reclaims 6505 level. Since this has sold off 50pts, it will take some price action to build a base and retest the 6505, 6512+ levels. I am watching for the response at 6478 and reclaim of 6495 level.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.