Continuing our SP analysis: When NY session closed yesterday, we had strong buying coming in. That buying halted the market and it started rolling over during overnight, with more buying, making London session bullish (even though it opened below previous London VA, A period penetrated and closed inside previous VA, "activating" the 80% VA fill rule. You can see the VA got filled in N period and price went beyond, after that we had a sell off). NY session opened below previous session value area, but quickly penetrated it on todayīs open (pushing the market in the opposite direction of London, which happens usually). There was no rejection to confirm the bearish bias when the first 30min bar closed inside of it, "activating" the 80% chance of VA fill, we have strength built in the background since yesterday NY end of session, you then could have tried to go long when B period started, and would have closed the position when price halted at the high of London session after climactic action and signs of weakness.
You can see price halting at the high volume node here after climactic action, which is the high of London session, and also a standard deviation of a pitchfork (not drawn yet):
More clues of strength in overnight:
So here we opened a short at a very nice supply confluence zone, right at the classic 10:10 am reversal time:
Partial profits and adjustment of stop loss:
Adding to position:
Stopped out of all positions, suffering a 6 pt loss in the last position added, and 24pt profit on the two contracts that were still open. Add that to the 30pts earlier we already have 54 - 6 = 48 pts of profits for the day, you could stop trading today, very nice trading day.
You can see price halting at the high volume node here after climactic action, which is the high of London session, and also a standard deviation of a pitchfork (not drawn yet):
More clues of strength in overnight:
So here we opened a short at a very nice supply confluence zone, right at the classic 10:10 am reversal time:
Partial profits and adjustment of stop loss:
Adding to position:
Stopped out of all positions, suffering a 6 pt loss in the last position added, and 24pt profit on the two contracts that were still open. Add that to the 30pts earlier we already have 54 - 6 = 48 pts of profits for the day, you could stop trading today, very nice trading day.
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