ES - Inventory Analysis & Trade Plan - 13 August 2024

Aug 13Hello and i hope everyone is doing well. In today's video i want to cover how the inventory developed yesterday and what are the auction paths that i am watching to trade ES today.

1. Current levels to observe the reaction of price: 5356 & 5383
   
2. Current Inventory is developing above PDC and have an excess - so the inventory is long but developing in PDR, so looking for more chop
   
3. Rejection seen at 5367.25 and supply shutting off at that price point
   
4. The structure of ON auction is balanced profile and looking for more rotational development today
   
5. Break of PDH or PDC are important references and i will be observing for continuation, lack of continuation will lead to reversal towards the VPOC
   
6. Also from the volume footprint - seeing supply above 5400 and supply shutting off below 5367
   

Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.

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Thank you.

Aug 13

Trade closed: target reached

ON high has been tagged and sellers are competing.