I will maintain my short-term focus on the recent multi-day balance high at 4830.75. In contrast to yesterday, buyers successfully closed today's session above this level.
Hey! The marked levels on my chart, including the Smashlevel, serve as crucial reference points for assessing market strength and weakness. The behavior of the market at these specific areas provides insights into its overall state.
For instance, holding above 4830 signals strength and increases the probability of reaching the highlighted upside targets. Although achieving the upside target is not guaranteed, the increased odds imply a more favorable outlook. It's worth highlighting that in a prevailing uptrend, the downside targets encounter more challenging conditions for realization compared to the upside targets. Yesterday's session was a great example of this, as sellers held below 4830 but were only able to reach the initial downside target at 4820 before encountering buyers. Context holds utmost significance.
In addition to providing a measure of the market's condition, these marked levels also function as potential entry and target points.
Please, allow me to say specifically what I'm experienced here in Helsinki, Finland.
1. I receive your newsletter at about 2.00 am EET , Finnish time.
2. I read your newsletter, I'm writing down everything for not forgetting what you wrote.
3. Today, Thursday 28 December, 00.00' hrs until now 15.36' hrs EET , Finnish time, the ES_F is constantly above 4830.
Q: HOW DO I INTERPRET THAT CONSTANCY ?
4. Yesterday happened the same . From midnight, EET time, until afternoon the ES_F was constantly above 4830.
5. Later dropped AND STAYED BELOW 4830.
- I went short from 4830 to 3819. Exited with profit. Entered short again , aiming 4808 as per levels and script. But ES_F turned up and never looked back.
That's my experience. I'm not complaining at all.
Totally the opposite. I'm trusting your research and giving you real example for letting you have a clear picture of how I interpret your newsletter.
If you have something to add for correcting my interpretation, please expand.
Hi Smashelito. All is fine. The Smashlevel of yesterday's session 4830 seemed to be the determinant level for trade under that level.
But didn't last through the session.
If you could be more analytical on the importance of the Smashlevel, I would be grateful to you.
Because by taking it as the conditional level for trading decisions is disorientating.
Maybe is me that overvalued that level. Maybe doesn't mean nothing at all. Levels go up and down nevertheless, isn't it?
Hey! The marked levels on my chart, including the Smashlevel, serve as crucial reference points for assessing market strength and weakness. The behavior of the market at these specific areas provides insights into its overall state.
For instance, holding above 4830 signals strength and increases the probability of reaching the highlighted upside targets. Although achieving the upside target is not guaranteed, the increased odds imply a more favorable outlook. It's worth highlighting that in a prevailing uptrend, the downside targets encounter more challenging conditions for realization compared to the upside targets. Yesterday's session was a great example of this, as sellers held below 4830 but were only able to reach the initial downside target at 4820 before encountering buyers. Context holds utmost significance.
In addition to providing a measure of the market's condition, these marked levels also function as potential entry and target points.
Thank you so much for your informative reply!
Please, allow me to say specifically what I'm experienced here in Helsinki, Finland.
1. I receive your newsletter at about 2.00 am EET , Finnish time.
2. I read your newsletter, I'm writing down everything for not forgetting what you wrote.
3. Today, Thursday 28 December, 00.00' hrs until now 15.36' hrs EET , Finnish time, the ES_F is constantly above 4830.
Q: HOW DO I INTERPRET THAT CONSTANCY ?
4. Yesterday happened the same . From midnight, EET time, until afternoon the ES_F was constantly above 4830.
5. Later dropped AND STAYED BELOW 4830.
- I went short from 4830 to 3819. Exited with profit. Entered short again , aiming 4808 as per levels and script. But ES_F turned up and never looked back.
That's my experience. I'm not complaining at all.
Totally the opposite. I'm trusting your research and giving you real example for letting you have a clear picture of how I interpret your newsletter.
If you have something to add for correcting my interpretation, please expand.
Thank you.
Thank you buddy! Great scalpers day, ended up green.