Let The Price Develop
Daily: Last week, the price extended higher until Thursday staying in the daily higher high range
Friday's price closed lower potentially starting a corrective phase this week
4hr: The 4hr trading range is still bullish but has now started the corrective phase back into the 4hr volume profile POC, There is a bullish imbalance sitting around the 20,138.00 area that could act as potential support, but we would need confirmations for longs
m15: Since the 4hr is in correction, the m15 is bearish, and we can see potential short-term selling. I will be watching 20,255.00 to 20,221.00 levels for shorts.
Of Course, let the price develop overnight before the NY session when I will update to see if anything has changed.
Since NQ and ES move in the same direction I will be monitoring for divergence or convergence between the two
Friday's price closed lower potentially starting a corrective phase this week
4hr: The 4hr trading range is still bullish but has now started the corrective phase back into the 4hr volume profile POC, There is a bullish imbalance sitting around the 20,138.00 area that could act as potential support, but we would need confirmations for longs
m15: Since the 4hr is in correction, the m15 is bearish, and we can see potential short-term selling. I will be watching 20,255.00 to 20,221.00 levels for shorts.
Of Course, let the price develop overnight before the NY session when I will update to see if anything has changed.
Since NQ and ES move in the same direction I will be monitoring for divergence or convergence between the two
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