Gentle Trader

Archive for January, 2010

Expecting resistance at 1075 level. Besides being a LVN, this price is also the VAL for last Friday.

Although the Market Profile shows an elongated profile, which is characteristic of trend days, the POC stayed right at the top of the bar. I’m expecting a bounce for this Monday. This scenario is invalidated if the market opens bellow Friday’s low and doesn’t get responsive buying immediately. In this case, I’m looking for composite levels 1055, 1041 and 1029.

Level 1072.50 touched and rejected during overnight session. Big resistance now at 1091.25 and 1095  (high value nodes). Expecting this 1072.50 level to hold.

Composite of the week:

Amazing short setup at 15:00hs… Couldn’t be clearer. It was so clear that I couldn’t believe it and got paralysed.

The price was lifted with almost no volume. It was amazing how sellers could do that. Right at the top, the volume came and the 6 point sell off stabilished.

Price is testing 1100 level (LVN) overnight. Next important level, the biggest composite HVN, is at 1109. Support at 1095.

Nice pattern that’s being occurring every day.

Big support at 1072.50. I’m looking for long entries there. resistance at 1091.50, 1095 and then big resistance at 1100.

Nice pattern happened yesterday just after cash open. There were 3 consecutive delta flushes right above previous high. Volume profile didn’t show initiative buying there.

What happened after the stops were executed? A 7 point sell off.

Level 1082.50 achieved during overnight session. Major (huge!) support at 1072.50.  Resistance at 1091 and 1094.

Not trading it yet. Just studying right now.

In one previous post I tested Fulcrum trader’s setup. Last friday this setup would have generated a good short entry.