WEEKLY SCENARIOS
This week my key level will be 3800/3750. For intraday time frames, 3880-3890 could be important this week as well.
Scenario 1: Unless we close below 3750 on the Daily (D1) or Weekly (W1) time frames, we could see a scenario where the market tests 3750-3800 but fails to break it. This is in line with what we have been seeing last few weeks.
Scenario 2: A D1 close remaining above 3860/3890 could target 3950. At time of this post we last traded around 3870.
Trade Plan this Week.
Pivot is 3875 (again).
Below, big levels are 3828 / 3804 / 3777 / 3750 / 3730 / 3712.
Above, big levels are 3900 / 3915 / 3937 / 3950 / 3960 / 3990.
Market Structure
Short Term Trend. The trend has been buying dips and selling rips. We put in an inside week and thus, we want to be observant of a breakout / false break.
The Profiles. We have our weekly VAL at 3828 and our weekly VAH around 3870. Both levels will be key this week, bulls want to build acceptance above the VAH, bears want to build acceptance below the VAL. In essence, I will be cautious with longs if bears manage to build acceptance below 3828 and I will be cautious with shorts if bulls build acceptance above 3870.
If bulls manage to accept above 3870, I think they may gun for the HVN at 3900-3905, followed by the poor high at 3920. Taking out the poor high may target 3937-3950/60. Failure to accept above 3870 I think would lead to a retest of the weekly VAL around 3828. Acceptance below 3828 would retarget that 3800, followed by our 3777 level. Bigger picture support comes in below around 3777-3750. I think bears will need to take out 3750 for further downside auction.
Tuesday Intraday. For Tuesday's cash session, I would think bulls are going to try to defend 3855-3860 as here we have our weekly and monthly VPOCs. As long as above, I will be looking for longs retargeting 3875 and 3900. Below 3855-3860 is where some trouble may kick in for bulls, and we may look for shorts targeting 3844 / 3828.
Trade Plan for Tuesday
Pivot is 3860.
Below targets 3844 / 3828 / 3804 / 3777.
Above targets 3875 / 3900 / 3915 / 3937.
STAY FROSTY!
This week my key level will be 3800/3750. For intraday time frames, 3880-3890 could be important this week as well.
Scenario 1: Unless we close below 3750 on the Daily (D1) or Weekly (W1) time frames, we could see a scenario where the market tests 3750-3800 but fails to break it. This is in line with what we have been seeing last few weeks.
Scenario 2: A D1 close remaining above 3860/3890 could target 3950. At time of this post we last traded around 3870.
Trade Plan this Week.
Pivot is 3875 (again).
Below, big levels are 3828 / 3804 / 3777 / 3750 / 3730 / 3712.
Above, big levels are 3900 / 3915 / 3937 / 3950 / 3960 / 3990.
Market Structure
Short Term Trend. The trend has been buying dips and selling rips. We put in an inside week and thus, we want to be observant of a breakout / false break.
The Profiles. We have our weekly VAL at 3828 and our weekly VAH around 3870. Both levels will be key this week, bulls want to build acceptance above the VAH, bears want to build acceptance below the VAL. In essence, I will be cautious with longs if bears manage to build acceptance below 3828 and I will be cautious with shorts if bulls build acceptance above 3870.
If bulls manage to accept above 3870, I think they may gun for the HVN at 3900-3905, followed by the poor high at 3920. Taking out the poor high may target 3937-3950/60. Failure to accept above 3870 I think would lead to a retest of the weekly VAL around 3828. Acceptance below 3828 would retarget that 3800, followed by our 3777 level. Bigger picture support comes in below around 3777-3750. I think bears will need to take out 3750 for further downside auction.
Tuesday Intraday. For Tuesday's cash session, I would think bulls are going to try to defend 3855-3860 as here we have our weekly and monthly VPOCs. As long as above, I will be looking for longs retargeting 3875 and 3900. Below 3855-3860 is where some trouble may kick in for bulls, and we may look for shorts targeting 3844 / 3828.
Trade Plan for Tuesday
Pivot is 3860.
Below targets 3844 / 3828 / 3804 / 3777.
Above targets 3875 / 3900 / 3915 / 3937.
STAY FROSTY!
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Exclusive content and access to SPX trading system link below:
patreon.com/Beyond_Charts?fan_landing=trueTwitter: twitter.com/Beyond_Charts
patreon.com/Beyond_Charts?fan_landing=trueTwitter: twitter.com/Beyond_Charts
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.