August 20

Discord access link: https://discord.gg/UPbu6PZFDp

We finally saw the breakout below the “4-Day Balance” which resulted in a “re-advertisement” of prices within last Tuesday’s elongated profile. The “C period” liquidation break left some single prints in the profile between 6453.75 and 6454.75.

  • It’s worth noting that after the look below the 6436 BZ level, sellers were able to keep us below it. This is an area I will be monitoring going into tomorrow’s session. The main goal for sellers should be to get us below the zone’s halfback at 6407 or below the 6400 psychological level.

  • Trading below last week’s low at 6387.50 could trigger an “inside week breakout failure” which can take us down to 6302 for a retest of the 6300 psychological level. Trading below 6387.50 would also end Weekly One Time Framing Higher.

Bullish Scenarios:

  • Longs above 6436 targeting the top of the single prints at 6454.75.

Bearish Scenarios:

  • Shorts below 6436 targeting 6407.

  • Shorts below 6400 targeting 6378.



Next

August 13