The market finished the day with an inside day, where the value remained unchanged. There is unfinished business at both extremes, which is what I'm observing. All levels remain the same.
Smash thanks for all the info and the work put into these plans. Im starting to grasp it a little better but I do have a question. What does the Daily "One Time Framing Up" mean and what does the "Ends: 4005.25" mean? Same for weekly, trying to understand this concept
One more question, what is more important in short term prior 5day balance or inside day. For example accepting below 5day balance high does that mean a failed breakout in which target opposite end or it doesn’t matter anymore more ?
Primary focus is on the inside day. If we get a break to the downside, the potential target can be the bottom of that prior 5 day balance, where we have that poor structure. Sellers don't want to see a break to the upside, which also means that we break the prior 5 day balance high and potentially negate the look above and fail scenario.
Not filling the poor structure from Friday mat all, does it make the rally more risker if we keep going north?
Smash, why do you consider today's low to be weak? I couldn't see anything that stood out to me to represent this being a weak low.
Due to its exactness to the 1/23 B-period low. Not very reliable.
Smash thanks for all the info and the work put into these plans. Im starting to grasp it a little better but I do have a question. What does the Daily "One Time Framing Up" mean and what does the "Ends: 4005.25" mean? Same for weekly, trying to understand this concept
OTFU = higher highs and higher lows
OTFU will end when 4005.25 which is prior day's low trades, it will end the OTFU and bring the market into balance. Hope this helps. Good luck!
One more question, what is more important in short term prior 5day balance or inside day. For example accepting below 5day balance high does that mean a failed breakout in which target opposite end or it doesn’t matter anymore more ?
Primary focus is on the inside day. If we get a break to the downside, the potential target can be the bottom of that prior 5 day balance, where we have that poor structure. Sellers don't want to see a break to the upside, which also means that we break the prior 5 day balance high and potentially negate the look above and fail scenario.
So we got the breakdown of inside day but didn’t traded back low of 5day balance, quiet a interesting & tricky day.
Yes, only partially filling the poor structure from 1/20 was quite bullish.
Thank you, looking forward to trade with you in real time whenever you open that service. Cheers