Nice consolidation after a double distribution structure at 06-01-2021
Good two day balance above previous long term high reference
i am looking for longs in the balance area because we are thinking price is gonna break this balance
because of the previous week trend, i believe price is going to break this daily balance to the upside, and if we add, this company belongs to the technology sector that has been increasing last week 3,2%
We get long to join the trend and waiting for a break at the weekly range, PGNY is part of the healthcare sector, this sector has been one of the strongest sectors since 1 month ago
Yesterday is a double distribution day with no migration of POC to the downside, for that reason, i want to get long above 3759.5 (early wednesday´s low)
EQC is a member of the retailer sector that has been increasing almost 2,6% last week, for that reason i am taking the balance break out to the upside
Overnight is liquidating inventory but we are still on balance, yesterday value is higher, the structure from yesterday give us a poor rally high (3854), prominent POC. if we match this with the 100% short overnight inventory, i would like to see at the open a Monday´s low correction (It is weak) (3788,5) to look for longs
We are going to open above all time highs after 4 days of balance, things did not change relative to yesterday´s buying, so for longterm investors the structure is weak because four days balance is weak (3788.5), an his pullback is poor (3813.5), for day traders i thing that if at the opening market has confidence is it totally right to take the long above last...
We are in a third day of balance, something to watch is the poor high at 3853,75 , this poor high tells me that the auction is still incomplete at that level, for that reason i am going to look for longs, we are opening in balance so i need to see the confidence of the market because it can be a rotaional day without opportunities
Price is gapping to lower but it is still in a three day balance, yesterday`s stucture is incomplete at the highs, overnight inventory is 90% short, so at the open i want to see some liquidation to look for longs, we have support area between 3797 (unfilled gap) and 3811.25 monday`s excess low
MU could not hold the gap, and if we compare the strenght between the market and MU, this stock is weak, so i will look for a short below 85,68
After a three day balance , price has to get acceptance above previous all time high to find more buyers, today´s open will be between value, so i do not expect a big movement today, the only place where i will look for a trade is 3838,5 (pullback low and third balance support) to get long and trade the range, eventhough, i believe i wont trade today, i need more...
Price breaking two days balaance to the upside after a strong trend last week, also IVZ is a financial company , this sector has increased ver 5% last month, also if price wont get the targer on monday , we should take out the trade because it has earning on tuesday
Price is opening above 01-14-2021 price spike, so i think we are going to trade this range again (3806.75-3816), we can not forget that 01-14 high is weak and poor, also it is the last week high, so i believe price is going to repair this structure today. for that reason i want to see acceptance above 01-14-2021 price spike (3806.75) to repair last week high. The...
After an overlapping bar i took the trade
If TSLA opens below 838,75 i would like to get short because on the daily chart price is in break out mode to the downside