I'm more interested in what would happen after it gets filled. Will it reverse or will it continue selling off? We'll just have to wait and see.
Yup... YM was nearing 2%, and closed near double the percentage move of ES. I think 524x (the next lower NPOC area in my world) is in play.
Nothing complex. ES Daily with Daily Volume Profile. Green levels are NPOC's (Naked Point of Control) You can see why I think 524x is in play. Note the 3 day accumulation in the 524x area. Of note as well, the NPOC shifted lower today. Good trades to all.
Okay, that makes sense. Thx for sharing. Mine's not as complex. Just a simple channel line. Tomorrow, I think we'll test the lower channel and possibly, probably, maybe reverse back up. That's what I was alluding to earlier about those bullish buttheads.
anyway we all agree that there are lots of pockets below. there is no magic, for uptrend, use fib extension, for balancing, use poc, for downtrend, use tpo. place your bet, the house always wins.
nice mc, is that a paid version? nerver get the color right. anyway, intraday i just look at vwap on 1000 ticks combined with 20ema
Yesterday was an Outside Day Down from ATHs. A fairly rare occurrence over the last few years. I see no strong edge either way on that basis alone. Most of the following days had the main move on the day up, but could see a test of yesterday's low early in the session with a good dip below. The key for the long side today is for yesterday's low to hold and/or snap back up if we trade below. Even if if we do go higher, I think an Inside Day would be the most to expect. It should be interesting to see if yesterday was some type of reversal day or if the bears will get slaughtered again as usual lately. I don't know. I'm long pre-market from 93 just targeting a 5298/5300 touch, but won't be pressing it more than that as I think we'll see another test of the lows by RTH.