Market resistance around the level from now 2795 (4/9/2020) till 2866/2900 for Emini ES_F My guess for the catalyst will be job numbers which may be shocking to many. Stop may be new lows into the 1500 area – markets do not move in one direction – and there will be plenty of long/short trades if this is the destination. Your trades are your own, don’t risk what you can’t lose and always use mental/mechanical stops.
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- Charts by https://www.linnsoft.com/
News EST – Big week of events
- Setup Instructions -USE MVV to determine momentum = Red/Green for sentiment – 24 hour/Globex for first 45m to hour then use RTH new profile for sentiment
- Longer Term Expectations – No downturn and buyers are in control – difficult to short on a long time frame unless using options to mitigate risk.
Strategy -Always Apply MVV & VPOC shifts for Sentiment & Risk. Use ONVPOC and 24hour VWAP as a sentiment guide. After 45m minutes of the RTH session use the RTH VWAP and VPOC as sentiment guide & Adjust Risk after 1st Target is hit.
Value Area Trade Setup suggest waiting for reaction at POC/VPOC then entering after – POC/VPOC often acts as support/resistance and should allow a tighter stop / better entry after initial reaction.
When open below VAL and move to POC, 63% of time it continues to VAH. When open above VAH and return to POC, 67% of time continues to VAL.
Value Area Stat Trade 8/17 previous VA is too tight for a setup – this has been the case for all but 2 days the last few weeks – very tight ranges = limited moves.
- ES_F YHI 2874.25 YLO 2846.50 – VAL 2854–55 main support
- ES_F Overnights balanced
- Bull > While a retrace of previous value is the main theought the Bulls are in cotrol and above 2875 bullish
- Bull Area – above 2875 and bigger players may be pushing higher – Bullish above 2875
- Bear Area- Retrace of previous days value into 2855-57 main thoughts this AM
- Previous Days Sentiment and Overnight Session
- Volume – Touch lower
- VPOC – Higher & Value Area Higher – Higher
- Direction -Higher – buyers in control
- Overnights – Balanced
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If a setup does not trigger- Carry it into the Globex session.
- Levels refer to ES Chart attached
- NVPOCs & GAPs are often targets or turning points of support or resistance
- GAPs –
- NVPOC – 2872.25
- ES CHART – Bullish above 2875 with retrace of value area into 2855-57 theory of the morning
NQ Chart – Bullish above 7025
Time to try for the downside for the next few months. Use put options at least 3-5 months out. SPY or ES with your risk being the premium.