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Condition 0
open near fridays mid
> expect chop
> trade later
Thoughts
The market is very much in Balance
We are near the yearly poc
We have a 4 day balance inside a 3 week balance
Balance rules apply on both areas
Expect chop
Condition 1
we are balancing around the top of a 4w balance area for two days now
yesterday sell off is taken back today
Condition 0
we open near y h with a non true gap of 1%
Thoughts
Lets see if yesterdays selling gives the "energy" to clearly break out to the upside
But do not forget: For now it is only overnight (which does not mean a lot)
Let them prove it in rth
Condition 1
3 days of indecisiveness at the top of a 4 week balance area
Condition 0
eth and open in range
> trade later
Thoughts
The last 3 days
Market is very indecisive
Sensitive for news of low importance
Does not find a sustainable direction
Makes many inflections throughout the day
Typical for a market that is controlled by short term traders
runs in one direction to turn on a dime and go in the other
Defenitely not a market to have bias and go for larger moves
Be patient and wait for smalll scalping opportunities
Condition 1
Holding the break out of 4w Balance but getting no further traction
Condition 0
Volatile eth took out both sides of rth
Thoughts
The market is only 3% away from the ath
Everything looks stable but we see no traction
Seems that the market could be too long and in need of an inventory correction (liquidation)
This is nothing to position for
Market can grind slowly higher as long as it wants
We simply have to save our emotional and financial energy and wait for times of more opportunity
