Weekly [01/08] Thoughts
Welcome to the New Year Folks.
The coming of 2024 also brought a new auction for us to disassemble. From the ballpark of 16830 Minor Turbulence → the Heights of 17110. This was my defined auction and the Market fell nearly +700p to the downside, what an Exit!
This liquidation event brought the first red sessions, or in other words; Initiated a new Auction to the downside.
For five (5) sessions I was patiently waiting for Bid tape to come to fruition. My *forced* return (01/05) defines the first event in which Buyers push back.
Rolling Session Exercise : In words, define what happened in the latest auction.
Failed [b-shape:absorption] Profile
Sellers manage to gap down and initiate through existing positioning
Heavily traded activity forces Price lower with a late day spike