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Objectives
We are in the lower third of the 2 week balance area
We open near y low
oni is short and we open at the bottom of the onr
Thoughts
The low of the balance area is not far away and could be tested to get some stops
Will be interesting so see what happens after this (if it happens)
I waited for the numbers to be out
Sold the pullback to vwap and scaled out to low of balance area
Yes, we have two days of clean lower value
But for me this is not strong selling, at least for now
Look how they were able to get the ibh after testing the low of balance
Intraday structure was indecisive/balanced on both days of the new year
Be careful with "second moves"
Objectives
The on came close to y low. That makes it weak
The fact that it is near the old balance area low also makes it weak
Thoughts
From an auction standpoint there is no real excess at the bottom of the latest downswing which can indicate that it is not finished
Below us is the fed spike, which is very poor structure
Market had the chance to turn on the daily but it failed in e-period
It did not accelatare on the downside but it fell slowly and ended with a spike down
At the moment we trade below the spike which brings the bottom of the fed-spike into play potentially
As B seemed a bit overextended i took a "scalp contra" in front of weekly vwap. Weekly vwap held perfectly
I shorted the potential roll over near midtime and later the "second move" at vwap
Objectives
We are otf down on the daily
On a higher tf we consolidate the long up move
onr explored lower but got rejected
we open in the middle of fridays range and value (no reason for early, offensive trading)
Thoughts
Last week we saw long intraday moves in both directions. Second moves were not promising. Watch if that continues
A meaningful CHANGE would have to take out a daily high first
