LOL what a last day of the year that was. I think everyone got a little butt hurt by that move.
The profile left at the end of 2014 shows no real accepted value, blew past 2060 by 10 points which was my target on the downside. With this volatility have been using small size and trying to capture larger moves with my runner(s).
As one can see the VPOC for this entire move from October lows is 2060 and became a magnet once price broke the upper range.
If the selling continues then 2029 HVN could be in the cards along with a major gap closing opportunity. The gap zone down there is very thinly traded so price is likely to blast through quickly in which case imo the next likely test will be the HVN at 2008.50.
Today I am expecting a test higher and a test lower for a fairly range bound day. 2068 is my test above level. It breaks and I will start to target 2072.25, 2076.50 and 2079.25 imo key areas of upper balance.
If we break lower then I'll be targeting 2045.75, 2043.25, 2038.252034 and 2029 (gap right below with more targets if it tries to close).
Essentially going to wait for something to be tested and trade based upon the reaction.
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