I was busy with technology work again this weekend, and it's already past 1:15 AM so tonight's post will be brief. Friday set a higher high and lower low compared to Thursday, but price remained above the 1091 level I mentioned Thursday night and managed to close above the mid-point at 1108, which is also the weekly and monthly VPOC. That's a key level that you're going to want to keep an eye on tomorrow. If we stay above 1108, there's a good chance of tagging that big 1122 level. Think of the number of stops above 1122! I would not fade 1122 on first touch. If we get a double-top at 1122, then maybe, I'd consider fading it. My current bias is bullish above 1099, neutral between 1093-1099 and bearish below 1093.
Don't have time to post scenarios tonight. Please refer to the Key Levels chart for areas of support/resistance. Same story as always; anticipating bounce on first touch at support, and a pullback on first touch at resistance. Good luck and trade well!
ES - Daily Bar Chart with Volume Profile and Key Levels
Hi EMP:
ReplyDeleteDo you have a description anywhere of the different indicators you have on your charts? I think I understand all except for the lines at the right end (VOL Trend, VT Hist1, Hist2, Hist3).
Regards
aviat72, Vol Trend is the VWAP. VT Hist1, 2, 3 are the closing VWAPs (Vol Trend) from 1, 2, 3 days ago.
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