March 20

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

March 20 Pre-Bell Update

• Overnight Inventory is balanced. We are currently trading just below the 5700 psychological level. We are slated to open inside of yesterday’s range so gap rules are don’t apply. We have some ETH single prints between 5712 and 5726. Within these single prints we have VWAP at 5721 which is also where we have the ETH halfback.

• I will be monitoring the 5700-05 area as well as Value Area Low at 5691. Below VAL we have the Overnight Low which is just above yesterday’s swing low at 5682. If sellers can’t keep us below the 5700 psychological level I will monitor for a potential bounce towards VWAP.

March 20 Plan

Buyers were successful at completing today’s task which was defending the 5676 BZ level; notice how today’s low is 5675.75. On the other hand, we can see that the really stalled near the 5764 BZ level. With today’s move buyers were able to put an end to Weekly One Time Framing Lower.

• Going into tomorrow’s session I will be monitoring the 5735 BZ level since it’s right in between today’s POC at 5730 and today’s Value Area High at 5736.75. If we see support in this area I will look for a move back to 5764. If initiative buyers show up above 5764 I will look for a move towards the 5800 psychological level and then towards 5823.

• For sellers it’s all about getting us back below the 5700 psychological level which can result in a move back to today’s low at 5676 and then back to 5647 if we look below today’s low.

Value Area:
VAH 5736.75
POC 5730
VAL 5690.75

Bullish Scenarios:

• Longs above 5735 or above 5764 targeting 5800 followed by 5823.

Bearish Scenarios:

• Shorts below 5700 or below VAL at 5690 targeting 5676 followed by 5647.

Nasdaq:

• Longs above 20,027.00 targeting 20,200.00 followed by 20,372.00.

• Longs above 20,372.00 targeting 20,585.00.

• Shorts below 19,782.00 targeting 19,469.00.