October 27th - 7:15am
*Before reading this trade plan, IF, you did not read yesterdays, or the Weekly Trade Plan take the time to read it first! (You can see both posts in the related publication section) *
If my posts provide quality information that has helped you with your trading journey. Feel free to boost it for others to find and learn, also!
My daily trade plan and real-time notes that I post are intended for myself to easily be able to go back and review my plan and how I did from an execution perspective.
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We gapped up overnight with 6890 our high and 6867 our low for the session as of writing this post. We have a massive gap that will be filled at some point in the next couple of days. We have a lot of earnings, FOMC, Economic Data and Trump in Asia tour. It is also the end of the month with Institutions looking to keep price moving higher and trapping retail investors to fill their liquidity needs.
We are very extended on RSI with all time frames needing a pullback to reset and continue higher. We can sell off all the way down to 6750 and still be in a bullish trend. My lean is that we fill the gap and work our way down to the 6784-92 level and then continue higher. Ideally, we would sell off hard, scare retail investors, lose Friday's low at 6777, reclaim and squeeze us higher. That could take a couple of days to do that, or we could get a rug pull any time.
Key Levels Today -
1. Loss of 6878 and reclaim
2. Loss of 6867 and reclaim
3. Loss of 6841 and reclaim
4. Loss of 6812 and reclaim
5. Loss of 6792 and reclaim
6. Loss of 6777 and reclaim
Key Support Levels - 6878, 6867, 6857, 6841, 6827, 6812, 6798, 6792, 6784, 6777, 6763
Key Resistance Levels - 6889, 6900, 6908, 6921, 6930, 6947
We have to view price action as bullish until the trend changes. That would need a loss of 6720, 6690 to become bearish. Until then I anticipate the overnight gap closing, losing the 6777 level and reclaim would be a great spot, but we can easily move up with the loss of the key levels above and reclaims to grab points at.
I will post an update around 10am EST.
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Couple of things about how I color code my levels.
1. Purple shows the weekly Low
2. Red shows the current overnight session High/Low (time of post)
3. Blue shows the previous day's session Low (also other previous day's lows)
4. Yellow Levels are levels that show support and resistance levels of interest.
5. White shows the trendline from the August lows
*Before reading this trade plan, IF, you did not read yesterdays, or the Weekly Trade Plan take the time to read it first! (You can see both posts in the related publication section) *
If my posts provide quality information that has helped you with your trading journey. Feel free to boost it for others to find and learn, also!
My daily trade plan and real-time notes that I post are intended for myself to easily be able to go back and review my plan and how I did from an execution perspective.
----------------------------------------------------------------------------------------------------------------
We gapped up overnight with 6890 our high and 6867 our low for the session as of writing this post. We have a massive gap that will be filled at some point in the next couple of days. We have a lot of earnings, FOMC, Economic Data and Trump in Asia tour. It is also the end of the month with Institutions looking to keep price moving higher and trapping retail investors to fill their liquidity needs.
We are very extended on RSI with all time frames needing a pullback to reset and continue higher. We can sell off all the way down to 6750 and still be in a bullish trend. My lean is that we fill the gap and work our way down to the 6784-92 level and then continue higher. Ideally, we would sell off hard, scare retail investors, lose Friday's low at 6777, reclaim and squeeze us higher. That could take a couple of days to do that, or we could get a rug pull any time.
Key Levels Today -
1. Loss of 6878 and reclaim
2. Loss of 6867 and reclaim
3. Loss of 6841 and reclaim
4. Loss of 6812 and reclaim
5. Loss of 6792 and reclaim
6. Loss of 6777 and reclaim
Key Support Levels - 6878, 6867, 6857, 6841, 6827, 6812, 6798, 6792, 6784, 6777, 6763
Key Resistance Levels - 6889, 6900, 6908, 6921, 6930, 6947
We have to view price action as bullish until the trend changes. That would need a loss of 6720, 6690 to become bearish. Until then I anticipate the overnight gap closing, losing the 6777 level and reclaim would be a great spot, but we can easily move up with the loss of the key levels above and reclaims to grab points at.
I will post an update around 10am EST.
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Couple of things about how I color code my levels.
1. Purple shows the weekly Low
2. Red shows the current overnight session High/Low (time of post)
3. Blue shows the previous day's session Low (also other previous day's lows)
4. Yellow Levels are levels that show support and resistance levels of interest.
5. White shows the trendline from the August lows
ملاحظة
10:10am - UpdatePrice lost 6878 but a very shallow loss to 6877 and then recovered. (I did not get into a position as it was a fast, choppy area). We are currently retesting resistance at overnight high of 6890. IF price loses 6877, we should get a chance for some points at the loss of 6867 level and reclaim. IF price cannot reclaim 6867, then we could flush quickly down to close the overnight gap. The daily trade plan levels are still intact.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.