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"This months candle has retraced roughly 20%, all from yesterdays activity. The 25% mark is around 3208.50, the 50% mark at ~3163, and 75% being 3117.50. However, despite this, the market is still bullish in the monthly chart. ~3157 to ~3160 needs to be watched.
In the weekly, price is currently trading at last weeks low 3222.50, which served to be decent support. It broke yesterday, and it's not getting much respect right now. To re-iterate weekly OHLCs:
This weeks(in order OHL/C): 3238.25, 3244.25, 3217.25
Last week: 3227, 3254, 3222.50, 3237.50
Week before last: 3179.50, 3229.50, 3177, 3225.75.
In the daily chart, major HVN 3227.75 has served to be an obstacle for the bulls in the current ETH session.
Todays OHLC: 3223, 3228.25, 32191.75. In relation to the previous daily candle, price is trading in the bottom 25% of it. This makes me think that if the bulls can manage to pass 3230, which is the 50% level of yesterdays candle, things will look good for them.
LVN 3222 has been "filled in" a bit since yesterdays morning analysis. LVNs above price now are roughly 3232, 3234.50, and 3237-3239.
If the market manages to pass 3199, there's a huge LVN underneath it from 3185-3192.. 3188 is a relevant wick in the weekly chart, and prices 3157-3160 are potential support areas looking at both the monthly and weekly.
In my experience, a sell-off like yesterday is usually followed by another. I will be on my toes this morning and be very careful / selective with my trades.
One more thing, In my volume profile daily session chart, 3227 has been traded around for 4 days in total- not counting the ON session. The market has done a lot of business here. It's clear that not much has traded between 3204 and 3217:
I can easily imagine price filling that "gap" down to that thick crimson line down there (HVN 3199), but I don't want to get ahead of myself. One moment at a time..
I uploaded a clip from todays recording after realizing I talked much more than usual (@Blue Eagle inspired).. Don't mind the bubble in my throat and the swearing.
I was supposed to start recording videos like this awhile back, but I realized it divided my attention, and I'm not too eloquent. Meh, I'll get better. I could save a lot of time this way as well.
There's an option in the time and sales in NT8 to set an audio alert if a certain number of contracts trade (in my case, 20+). I know! It keeps me less serious during the session.. I'm looking for different audio files for my stop loss, entering the market, etc. They've gotta be just as funny or crude!