17/02/23 THURSDAY 10:09+1GMT
MORNING REPORT
Let's start with a top down perspective: we are in a monthly, weekly and daily balance. So we are in the maximum of uncertain possible price locations. In such a position market participants tend to be extremely weak: probably the weakest of the weaker.
Having said that, note that GB opened inside yesterday GB range 24225-2502 and around composite poc 2464: so immediately you have your major day time frame references for current initial action: initial acceptation of yesterday boundaries is expected and then, eventually, tests above and/or below them.
Major short term references are instead 24437, 2396 and 2346 downside while 2512 and 25393 upside.
So you know from start where and when other market participants could enter the market.
If we will ramain "inside" the intial referenced we will have only day timeframe participants and scalpers. If above or below the next series we could find stronger participants like short terms and eventually mid ones. And you know from start that they could act with an initiative approach or with a reaction approach. So you are prepared to react in any eventuality at those levels.
MORNING REPORT
Let's start with a top down perspective: we are in a monthly, weekly and daily balance. So we are in the maximum of uncertain possible price locations. In such a position market participants tend to be extremely weak: probably the weakest of the weaker.
Having said that, note that GB opened inside yesterday GB range 24225-2502 and around composite poc 2464: so immediately you have your major day time frame references for current initial action: initial acceptation of yesterday boundaries is expected and then, eventually, tests above and/or below them.
Major short term references are instead 24437, 2396 and 2346 downside while 2512 and 25393 upside.
So you know from start where and when other market participants could enter the market.
If we will ramain "inside" the intial referenced we will have only day timeframe participants and scalpers. If above or below the next series we could find stronger participants like short terms and eventually mid ones. And you know from start that they could act with an initiative approach or with a reaction approach. So you are prepared to react in any eventuality at those levels.
Ubi maior minor cessat
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