After the heavy selling we saw last week, a technical bounce should not come as a surprise. We have an Open Gap below at 1061.75, which could act as a magnet. Historically, the first day of February is bullish, and Monday's have also been bullish lately. I'm anticipating range-bound activity during the morning session, followed by a trend developing into the afternoon session. I will be looking for Shorting opportunities in the Resistance Zones and Buying opportunities in the 1059.75-1062.50 Zone, and the other Support Zones below. My current bias is bullish going into tomorrow. Use Globex Low as Initial Support. Even better if Globex Low happens to be within my Initial Support Zone of 1066.25-1068. Trade well!
Econ Data
Personal Income and Outlays at 7:30 AM (cst), ISM Mfg Index and Construction Spending at 9:00 AM (cst).
ES - Daily Chart with Volume Profile and Key Levels
Where do your MP charts come from?
ReplyDeleteTrade Station
ReplyDeleteHi Awais..
ReplyDeleteI was going through blog posts from the begining.Looks like your whole trading journey is documented here.It is really a great learning experience for me reading those.
One query i have is how do you apply volume profile in your trading.Do you use it for S/R ..
Thanks
tRaDeR_B
Glad it's helpful to you....and yes, I use Volume Profile for S/R
ReplyDelete