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This means I will be starting with a short bias but looking to get on base and there is a solid support zone around the 7530 - 7510 area. I would maybe look for longs off this area if we pull back to it.
Story overnight:
Yesterday we closed at 7542.25 and have been consolidating around this price with the ONH being 7576.75 and the ONL being 7520.25. Sticking within about a 60pt range overnight.
Trading Plan:
I am seeing more of consolidation as for now and that may be due to this week being a shortened week so less volume in the market.
Today I am looking at the 7580 for my flip zone. There is some delta, the ONH, PDH as well as a slight ledge on the VP here.
@DailyProfilerCo Thank you, it seems to stick very well. One thing I would incorporate would be GEX levels but I don’t have them at the moment, they do work good alongside the ONL/ONH and VP.
Story overnight:
Overnight there was a slight push down and now were are back up close to the PDCC which was at 7546.25 with an ONH set at 7550.75 and an ONL set at 7510.50. This was around 40pts of movement.
Even though I am bullish I would really like to see the buyers hold above the 7490 for a continuation as the VP has a decent sized ledge there. For now we are within the range of 7490 - 7410.
Story overnight:
We opened yesterday around 7400 where the ONL was set at 7402. The ONH is currently set at 7473.75 with some slight uptrend price action overnight.
There were some tensions over the weekend but before open on Sunday there was an announced ceasefire… again.
The receasefire 1 hour before futures open:
The U.S. and Iran agreed to stop attacking each other, according to a senior U.S. official, as the two sides plan to meet Tuesday in Qatar's capital to work out their dispute over the Strait of Hormuz.
I would like to see a break of the ONL for a continued push by the sellers and with the amount of movement from yesterday’s PA I won’t be expecting much movement but you never know with the market.
Story overnight:
Yesterday was a fairly volatile day, the PDCC was 7429.75 with the open at 7484.75.
There was a bit of movement from the PDCC once the Europe session started and we came down to set the ONL.
Currently the ONH is set at 7454.25 and the ONL is set at 7357.25.
Trading Plan:
Today I am starting with a slight bearish bias with my flip zone at 7410/15. This zone coincides with the trend structure as well as the VP ledge.