Key takeways:
Third session in a row with signal = zero. This time I am even less interested in trading today.
Odds are obviously still on bulls side but this particular setup for the day has simply less edge historically.
Most probable scenario is that “pros” were accumulating last 2 sessions, thus i won’t reduce my long swing position anymore and bet for that possibility.
If I will trade intraday, it will be 1/4 of normal size, no scaling in, no adding to position.
In conclusion for intraday: do not force trades, avoid shorting today, wait for great setups which occure live with support of orderflow (delta, excessive supply/demand).
Support: 5287-82, 5264-60
Resistance: 5307, 5317-20
Notes/Observations/Issues:
Overnight bullish single print, makes first support zone at 80s area a bit stronger.
Orderflow level popped again in ‘86, need to monitor these in the future.
Price already in higher ladder bands which makes it less attractive for buyers at these levels (90-95).
Pre-Open Commentary distills key takeaways from the analysis of the London GEX and Structure posts and also serves as my personal journal (sort of).