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All previously stated analysis components remained intact except addition of bullish harami candle which is way better than semi-Doji seen last FRiday.
Thankfully Powell will keep his mouth shut and the only major piece of News will come at 9:00 CST with JOLTS job opening, which is not a small one but definitely not in the same league with Powell biggie.
if I am not mistaken in this sick world less than expected jobs openings would provide bullish sentiment, and more than expected - bearish.
Anticipating 4 and 5th Elliott wave, which may not come today. May be we will have a really dull day as well, though anything above 50 range is fair game for me.
Decided to try PnF chart to see levels more clearly and use them as targets.
The only concern that there is divergence between increasing Vol on the bullish bar and negative Cummulative Delta in both Daily and PnF charts.
May be it is harbinger of pending bearish move. Though there were no obvious imbalances in daily footprint chart.
Mind you we are inside two powerfull BEARISH channels and fooling around with bullish microchannel.
One thing that was still overlooked is VWAP. Market settled right there so at some point it will deviate from it.
Just needs right impetus for the move, which could come on Thursday and Friday with unemployment related news. PnF
we opened near these poc so i followed my plan and did not trade early (good)
as we had an established up-move i tried to trade for continuation
it was very, very choppy
Finally the continuation move came but without me as it made one hook too much for me
My execution rule for nq says: it is slippy, do not close manually, give the responibility to your stop
I decided to decviate from the rule and closed manually (it was very choppy, powell about to speak). Sometimes deviation is good, sometimes not, You never know
It is definitely tempting to take a short side.
May be too tempting so may be a trap.
I would wait for JOLTS report before moving and we do have bearishgap down at the open
with the potential of gap-n-go downwards breaking through lower limits of current upwardbullishminichannel.
