Smash ES Weekly Outlook | December 12-16…

Dec 11, 2022

🟩 Daily: OTFU | Ends: 3967 🟨 Weekly: BALANCE | 4 Week | H: 4110 L: 3913.75 🟨 Monthly: BALANCE | 3 Month | H: 4137.75 L: 3502 Weekly Extreme High: 4105 Weekly Extreme Low: 3830 An in-depth daily plan will, as usual, be published tomorrow. For this week, the main focus will on the established weekly balance area. Sellers managed to take out the weak area highlighted in prior Weekly Outlook, to end the weekly one time framing up, meaning we are back to a 4 week balance. Pay attention to the shape of previous week's volume profile and note where we have spent the most time and volume. As you can observe, we have spend the most time and volume at the lower end of the profile, meaning we are accepting the lower prices, which essentially means that the auction is probably not finished in that direction due to the lack of excess. However, we did move away from that lower end of the profile on Thursday and Friday, but was that only short covering to bring in stronger sellers for new lows? Friday’s session ended with a closing sell-off. I will pay extra attention on that lower distribution, highlighted in yellow. Buyers want to establish acceptance above that area to target a traverse of this weekly balance area. Failure to do so opens up for a test of the weekly balance low. Note that we have a lot of air below the weekly balance area.

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4 Comments

Marco couceiro

Dec 11, 2022Liked by Smashelito

Best reading ever!

I keep struggling to find out which feature you use to determine the weekly extremes ,but without matching 100%,i,ve been using the weekly profiles with that end and most of times gives me a real matching with yours ,so even knowing my approach is not yours in determine the extremes, the results are not very much differents from yours ,so keep tracking this way you teach us all how to work the market.thanks so much

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