Important levels for 23/09/2022.
The level at which we have closed today is inside the day's VA and if we look at how the day panned out, we can see the price went up in he morning tested previous day VA and then fell and found support at the old buyer reference area and then the expiry dance and a close where none of the buyers or sellers look in control.
Tomorrow, we can give the long trades a miss at current levels as we do not see a great RR, but if we see a gap down open we might take longs with reduced position sizing if we see support at 17492-17538 zones. This can be a risky proposition as these reference area has been tested multiple times.
For shorts, we can short once we sustain below 17615 for targets of 17544,17492 and the old buyer reference zone of 17357-17382.
The level at which we have closed today is inside the day's VA and if we look at how the day panned out, we can see the price went up in he morning tested previous day VA and then fell and found support at the old buyer reference area and then the expiry dance and a close where none of the buyers or sellers look in control.
Tomorrow, we can give the long trades a miss at current levels as we do not see a great RR, but if we see a gap down open we might take longs with reduced position sizing if we see support at 17492-17538 zones. This can be a risky proposition as these reference area has been tested multiple times.
For shorts, we can short once we sustain below 17615 for targets of 17544,17492 and the old buyer reference zone of 17357-17382.
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