Daily is one time framing down, however, we are still trading above the FOMC breakout point indicating that buyers remain in control in the short term. The poor structure from 2/1 partially filled.
Great write up as always. Just a little typo I think in the last full paragraph before the bullet points with levels. I think you meant to write “down” instead “of” up in the sentence “If buyers manage to end the daily one time framing up by breaching 4136.50, there is potential for short-covering, which means that I would be cautious on the short-side.”
So glad I found you! Thanks so much for keeping it all free
Thank you King!
Enjoying reading your breakdowns with my morning coffee. For going into morning did you mean 4160 instead of 4060 :)
Hey Smash,
Great write up as always. Just a little typo I think in the last full paragraph before the bullet points with levels. I think you meant to write “down” instead “of” up in the sentence “If buyers manage to end the daily one time framing up by breaching 4136.50, there is potential for short-covering, which means that I would be cautious on the short-side.”