Daily Journal - Day 3
Price Action Daily (V2H3) (11:30) 1. The price fell in the early session to create the daily low. 2. After pulling back from 66,800 (Daily low) it completed its pull back to create the daily high at ~67,750. 3. The price again retested the daily high in the late session at around 4:20 in the morning. 4. It closed just above the median. What does the price tell me? 1. Sideways market after steep fall on Monday. 2. It created a range of ~1000 points. 3. It kept finding support on 66,800 for 2 time directly and 2 time indirectly. There can be two outcomes today: 1. It still stays in this range to again consolidate. 2. If it breaks out 67.6K, 68,400 can be seen but if it breaks down 66,600 then a new low at 65,500-65,800 can be formed. ATW (11:42) 1. The price is trading below the median line and looks like it might test the median again. 2. If the breakout is successful 67,600 can be seen which is da...
