Today's session broke from morning balance, much like Friday's session. With volume up, and with Friday's range lows serving as resistance for morning balance, the sellers hit the gas.
Knowing that inventory was still out of balance to the downside, two trades of the day setup. The morning triangle at range lows and the afternoon VWAP reversal.
Today was a PERFECT trading day!
Like we point out in the slides, we need to start worrying now about inventory being too short. And at range lows: 1) the market bounces; 2) looks down and fails to bounce; 3) or just plane pukes again. 4) Or a combination of all three!
I'm calling a bounce attempt as the most high odds scenario.
No comments:
Post a Comment