Today’s market snapshot
The US stock market is closed... There isn’t much room to maneuver today either..
Last Friday, the chance for the short positions that were trapped to probe again was used up in the morning.. (Figure 1)
No big volume was released, so it was only a quick scalp..
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Today’s intraday opportunities: still just watch the pending orders (Figure 2)
For the spot market, the major range is still 78k and 82k..
The middle part depends on the contracts..
Right now, contracts are densely positioned below 79k, and also above the 81.6k level mentioned yesterday.
Whichever of these two ranges gets a volume-spike opportunity, you can wait and watch for it.
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For now, the next plan is to look at Figure 3
The reasons are all on the chart; I won’t go into detail..
Next scenario projections
Bullish scenario
Hold Friday’s low at 78k -> dive into the contract order zone below 78k with a volume surge, consider going long at lows -> reclaim 80k -> form a new consolidation range above 80–81k -> continue attempting new highs
Bearish scenario
Price taps 81–81.5k and then gets knocked back again (the pending order zone) -> if it can’t reclaim, it only fills the gap from Friday’s Non-Farm payrolls bearish candle -> if it falls below 78k without being able to regain it -> the previous round of spot longs start getting trapped -> test down toward the POC buy-side zone above 77k -> if weakness continues, look at the giant whale support at 75–76k
The US stock market is closed... There isn’t much room to maneuver today either..
Last Friday, the chance for the short positions that were trapped to probe again was used up in the morning.. (Figure 1)
No big volume was released, so it was only a quick scalp..
----------
Today’s intraday opportunities: still just watch the pending orders (Figure 2)
For the spot market, the major range is still 78k and 82k..
The middle part depends on the contracts..
Right now, contracts are densely positioned below 79k, and also above the 81.6k level mentioned yesterday.
Whichever of these two ranges gets a volume-spike opportunity, you can wait and watch for it.
-------------
For now, the next plan is to look at Figure 3
The reasons are all on the chart; I won’t go into detail..
Next scenario projections
Bullish scenario
Hold Friday’s low at 78k -> dive into the contract order zone below 78k with a volume surge, consider going long at lows -> reclaim 80k -> form a new consolidation range above 80–81k -> continue attempting new highs
Bearish scenario
Price taps 81–81.5k and then gets knocked back again (the pending order zone) -> if it can’t reclaim, it only fills the gap from Friday’s Non-Farm payrolls bearish candle -> if it falls below 78k without being able to regain it -> the previous round of spot longs start getting trapped -> test down toward the POC buy-side zone above 77k -> if weakness continues, look at the giant whale support at 75–76k
