September 26th - 6:30am EST
*Before reading this trade plan, IF, you did not read yesterdays, or the weekly trade plan take the time to read it first! (You can see both posts in the related publication section) *
If my posts provide quality information that has helped you with your trading journey. Feel free to boost it for others to find and learn, also!
You can review yesterday's plan and the updated notes as I trade during the day. This commentary is intended for myself to easily be able to go back and review my plan and how I did from an execution perspective.
We had some key levels that were lost yesterday and until we clear 6684, bears are in control. We are now trading below the white trendline magnet that I have been discussing for over a month. My lean is that we could chop around today between 6674 and 6633 with 6653 being our mid-point.
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Overnight session high is 6674 and low is 6653. We have the White Trendline Magnet above at around 6675. My lean is we fill out and chop around this 6674-6633 level. Any, loss of 6624 would see 6611 as first area of support.
Key Support Levels - 6653,6644, 6633,6624, 6611,6602, 6588,6575, 6541
Key Resistance Levels - 6668, 6674, 6679, 6684, 6688, 6694, 6705
I will be looking for a flush of 6653 and reclaim as first level for some points. IF, we lose 6650, I would wait for the flush and reclaim of 6633 or 6624. 6633 has been used up 2x yesterday, so we could slice through it. 6611 (Weekly Low) would be the next best area for liquidity to long.
I will post an update around 10am EST.
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Couple of things about how I color code my levels.
1. Purple shows the weekly Low
2. Red shows the current overnight session High/Low (time of post)
3. Blue shows the previous day's session Low (also other previous day's lows)
4. Yellow Levels are levels that show support and resistance levels of interest.
5. White shows the trendline from the August lows.
*Before reading this trade plan, IF, you did not read yesterdays, or the weekly trade plan take the time to read it first! (You can see both posts in the related publication section) *
If my posts provide quality information that has helped you with your trading journey. Feel free to boost it for others to find and learn, also!
You can review yesterday's plan and the updated notes as I trade during the day. This commentary is intended for myself to easily be able to go back and review my plan and how I did from an execution perspective.
We had some key levels that were lost yesterday and until we clear 6684, bears are in control. We are now trading below the white trendline magnet that I have been discussing for over a month. My lean is that we could chop around today between 6674 and 6633 with 6653 being our mid-point.
---------------------------------------------------------------------------------------------------------------------
Overnight session high is 6674 and low is 6653. We have the White Trendline Magnet above at around 6675. My lean is we fill out and chop around this 6674-6633 level. Any, loss of 6624 would see 6611 as first area of support.
Key Support Levels - 6653,6644, 6633,6624, 6611,6602, 6588,6575, 6541
Key Resistance Levels - 6668, 6674, 6679, 6684, 6688, 6694, 6705
I will be looking for a flush of 6653 and reclaim as first level for some points. IF, we lose 6650, I would wait for the flush and reclaim of 6633 or 6624. 6633 has been used up 2x yesterday, so we could slice through it. 6611 (Weekly Low) would be the next best area for liquidity to long.
I will post an update around 10am EST.
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Couple of things about how I color code my levels.
1. Purple shows the weekly Low
2. Red shows the current overnight session High/Low (time of post)
3. Blue shows the previous day's session Low (also other previous day's lows)
4. Yellow Levels are levels that show support and resistance levels of interest.
5. White shows the trendline from the August lows.
Catatan
8:10am - UpdateIdeally, price will rally up to 6674-76 area and/or as high as 6684, then reject this area back in to the overnight session range, lose 6657 and setup a nice level flush to around 6648-50, reclaim 6653 and retest higher. My lean is that we have been distributing below 6684 and I anticipate lower prices. Each level from yesterday's low has been tested a couple of times and not sure how much liquidity is available. The next best level IMO is going to be the 6610 for a flush and reclaim to back test 6624, 6633 first two targets. I do not think we get much action until after the NYSE open. I will post around 10am or when price settles out.
Recap - be cautious chasing at the open if price is running into 6676, 6684. A rug pull can happen at any time. First warning would be rejecting one of those levels above and then losing 6668 level. Then I would be looking for flush and reclaim at 6610 being highest quality. We could definitely bounce at any level in blue, but they have been used up.
Bullish if we clear 6684, back test and then head higher to levels above.
Catatan
9:25am - 5 mins from the NYSE open, we have tested the 6684 level and are back testing the 6674 overnight high. Hold it and clear 6688 and we should continue higher. IF, price loses 6668, I would let it flush and look at the areas in plan above to flush and reclaim.Catatan
9:35am - Price back tested down to 6667.50 and rallied. IF, price can clear 6680-6690, we should test 6697, 6705 minimum. IF, price loses 6666, then I would expect price to flush levels discussed above in trade plan and notes. I missed the entry on the back test of 6667, so will need to wait for another pullback to find a good entry point for some quality points. Catatan
9:45am - Update Price should test 6697 & 6704. IF, price holds 6684 over the rest of the day, we can keep moving higher. IF, we lose 6682-84, it would be a warning with 6666 needing to hold.
Catatan
10:10am - Price rallied to 6703.50 (right at my 6704 target). Price can still go higher, but my lean is that we could back test 6690 area and then continue lower. IF, we lose 6666, I would get out the way and let it flush. 6653 flush and reclaim, could get some points, 6333.50 has been used a few times. Maybe another bounce left. 6624 is my first high quality level to get some points. 6611 being the top level for a good bounce and back test of 6650-53 area.Catatan
1;15pm - Update You can look at a 3hr chart and see that institutions have been buying the past 2 days between 6653-6663. This has been a choppy zone. I was looking for a flush to 6653, but the lowest we got was 6657. I mentioned that we needed to hold 6684 by end of day to continue higher into next week. I expect that will happen, unless we lose the 6650 zone. Next week is end of month/quarter and Employment report on Friday 3rd. I missed my entry earlier and have not entered into a trade today. I will probably take the afternoon off, unless I get a notification that price has lost 6650 level. I will send out the weekly and daily plan for Monday by Sunday afternoon before the session open.
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.