Yesterday played out similar to the other days. The exception being the strong buying coming in on the lows. Opening in range in a toothy profile.
Most of the levels from the last few days are remaining the same. 2003 to 2004 is the overnight LVN and imo a decent area to be tested on a push lower.
Hypo 1: Responsive selling back towards yesterday's VPOC and buyers step back in to drive price towards 2029 area. Yesterday's high will be a decent scale area as well the predefined scales I use (0.10c and 0.20c typically on options).
Hypo 2: Chop, Yesterday's VPOC still a place to trade but also a couple of areas below that might be tested. Ideally we stay within yesterday's range which helps to define risk for me. Will be very cautious in this scenario as chop is not normally my best trading setup.
Hypo 3: Lower. Not expecting this. Probably will trade this as hypo 2 and bring in yesterday's levels into play if the lows break. Wary of being short at the moment.
Hypo 4: Open drive up. Jump on it and keep an eye on volume delta and breadth to confirm a trend day.
No comments:
Post a Comment