The importance of the 4824 level lies in the fact that it corresponds to where sellers entered during Friday's PM session. This suggests it's a critical area for sellers to hold for a potential downside continuation while avoiding a squeeze (stops > 4824). The reaction within this area during the overnight session (ONH: 4823) is not surprising due to the trapped buyers.
Thank you, buddy! Although it is a shorter day tomorrow, let's try to make some green.
love your analysis broski thankyou from all the beginner noobs!
hi Smashelito
why 4824 is important level its not in value area.
The importance of the 4824 level lies in the fact that it corresponds to where sellers entered during Friday's PM session. This suggests it's a critical area for sellers to hold for a potential downside continuation while avoiding a squeeze (stops > 4824). The reaction within this area during the overnight session (ONH: 4823) is not surprising due to the trapped buyers.