October 15

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

Today we saw buyers show up just above Friday’s low (excess low / decent buying tail). This resulted in an “inside day breakout failure”. The move left some single prints in the profile between 6636.50 and 6653. These single prints are below/outside today’s value area; this is the area that initiative sellers would need to go through if we see a move below today’s Value Area.

• On the other hand, buyers tried to close the session above the 6700 psychological level but couldn’t. We still have a lot of unfilled single prints from last Friday’s session that need to be filled. The top of the singles at 6742.50 is the bottom of the “5-Day Balance”. Filling these singles and trading above 6758 will most likely take us to the top of the “5-Day Balance” and probably new All Time Highs due to the Balance Area “breakout failure”.

Bullish Scenarios:

• Longs above 6700 targeting 6729 or 6742.50.

• Longs above 6758 targeting 6800 or 6817.

Bearish Scenarios:

• Shorts below 6670 or below 6641 targeting 6583.