Basic idea is to use the 1560-50 - 1561.25 as a magnet price today. So we need to see a rally above that or a decline below that to initiate any trades IMHO...Much harder to buy or sell at those prices. I prefer to see an open and drive outside last weeks highs to look for sells or an open and drive under 58.50 to look for buys.

The 1554 - 1555.50 is an additional support point below created by high volume . It is ok to buy there on a drop down into it from above but I will go lighter due to the magnetic nature of high volume and potential to chop.

1549 - 1551 has a low volume area on the weekly but a high volume area from last months trade along with the s2 area today.
As usual I made a mistake on video and mentioned Fridays trade...well, the market wasn't open so that is Thursday.

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I think today it will be even more important to wait for a push towards one of the edges before looking for entries. We are setting up to open inside the value area of Thursdays trade. If we think we have a good low or high then we can use the projection technique as per Dalton and add/subtract Thursdays range to the potential developing low or high to come up with an additional reference point.

This will be more important once the IB is complete as we can then use the 1.5 and 2 times IB range for confluence.

the Va high from Thursday is 62.50 so ideally you want to look shorts above there and the Highs of last week...best to wait to see some air pocket on lower time frame...so all those who initally sold that VA high from an open inside value get smoked out a bit...

so when they get stopped out then the market often goes back down...in this example

air pocket at 62.75 currently

I'm looking for shorts up at this 64.50 now....that would be two points off that VA high mentioned...often they know where the VA players stops are on fades

I do like how they ran out the ON highs and now last weeks highs...what I don't like is that they tested the key zone first and that has held as support first...so this is more aggressive

so Thursday had a 10 point range and today we opened in value...so in theory we should have a similar range...u can project from current lows or highs for an additional inflection point

air is filled and we reverted back to value like we should

that's me flat at 58.75...not reversing long ...this is VA low from Thursday..need to see what happens from here

I'd like to see what happens if we print 55.50 ...that also puts us in the 10 point range projection now too...besides being weekly pivot and other area mentioned on video

57 is S1 today but I'm not using it....sure seems somebody is so far

magnet area worked well although I missed this long side entry...It's always important to be satisifed and not try to be something you are not...for me I am not a good stop and reverse trader...I need time to regroup my thoughts afer a good campaign.

I've had too many bad trades trying to catch each fluctuation


soap box is kicked aside now!

I think as long as we can stay under 61.25 then they should go for that weekly pivot and full range projection at 55.50

I assume most know where 1.5 the Ib came in at...nice confluence....so far !!