August 28

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

During Wednesday’s session we saw initiative buyers above Tuesday’s value area and above Tuesday’s single prints. These buyers were able to take us back to the 6500 psychological level and we match the prior All Time High exactly to the tick. Besides being a “weak high” since it’s exactly at the prior visual reference it’s also a “poor high” since it only has 1 tick of excess. This means that the sellers that showed up could be short-term sellers and that the up auction hasn’t ended yet; auctions are supposed to end with excess.

• Going into Thursday’s session I will be monitoring for continuation of Daily One Time Framing Higher or for buyers above the 6496 BZ level who can then push us into new All Time Highs. For sellers it’s all about getting us back below the 6466 BZ level in order to then fill all of the single prints from last Friday’s session.

Bullish Scenarios:

• Longs above 6496-6500 targeting 6525.

Bearish Scenarios:

• Shorts below 6480 targeting 6466 followed by 6427.75.