🟥 Daily: OTFD | Ends: 3912.50 🟨 Weekly: BALANCE | 5 Week | H: 4141 L: 3855.25 🟨 Monthly: BALANCE | 3 Month | H: 4137.75 L: 3502 Weekly Extreme High: 4015 Weekly Extreme Low: 3745 An in-depth daily plan will, as usual, be published tomorrow. Last week we talked about the shape of previous week's volume profile, where we spend the most time and volume at the lower end of the profile, note the b-shape. The main area of our interest was that lower distribution, highlighted in yellow. Note how we opened above that distribution on Monday and found buyers when testing it, which resulted in a triple distribution trend day up. Buyers main target was the resistance area 4060 to the Weekly Extreme High 4105, which was tagged already in Tuesday’s session. I've said it many times and it bears repeating, when the Weekly Extreme Highs/Lows gets tagged early in the week, one should be cautious chasing. You want to see established acceptance above, in this case 4105, to be interested in initiating new longs. Note from prior Weekly Outlook:
Thank you for your brilliant work!
Love the at-a-glance economic calendar!
Do you have any educational write-ups? New to this news letter and wanted to get full value. Thank you.
Bounce from 3790 support zone! is that VAL from the 6 week profile?