Weekly [07/13] Study
Good Morning Traders.
This feels like an appropriate time to re-iterate SetStack.
This is a space for me to express my Higher Timeframe Ideas.
This acts as a preparation piece for how to approach Market Movements.
These releases also include important changes in Market Dynamics / Structure.
SetX is simply my intraday babble following these plans.
Using both in tandem is when preparation meets real-time.
If you’re up to date on the releases, my narration follows the clues.
I am not your alert monkey, but you’re welcome to come along for the ride.
This is a Weekly Composite Chart inside Market Profile.
I’ve shared my rather Bullish Stance at the start of the Middle Profile. Since then we have rallied, and faded, and rallied again; Particularly influenced by my Pivot : 7460.
I initiated the Long entry against my Plans’ Short Target : 7370 + 7410 which came in handy during the following Monday when we retested the left-most Auction.
The Following is my narration of Price —
Profile 1.
A Balanced Profile with a Poor High and a Tapered Low.
Buyers and Sellers were active inside this Profile. Buyers were interested in Falling Prices and accumulated this Price. Sellers manage a Gap Down and a Lower Close but looking back, it seems like it was an opportunity for the Largest Buyers to load up.
Yes. This was shared in Real Time as well.
Profile 2.
Slightly Nuanced, Lifted Balance with Short Week.
Buyers surprise the Market with a Gap Up. Sellers attack the spiked Rally and accomplish a Retest of the prior Profile Highs. The nuance here came in the form of a Take Profit Liquidation Break going into the Friday Holiday. This allowed for the prior Poor High to be auctioned again, which resulted in a Weak Low being formed and rallying back to the Highs.
Profile 3.
Trending Profile, with Confirmation.
The Aftermath would reveal this Week as Bullish, but how it arrived is what’s unique to me. There was a downward pressure that had been pressing Price lower. It was unclear to me whether it were heavy TP Liquidation flow driving Price, or actual Sellers. Regardless, I was on the right end of the boat for the first half. Flipped it into Buy Side by the end. Barely.
Now that we’re on the same page. Here is what I am expecting.
The Market is rather resilient this Auction, Buyers will continue pressing Higher.
Higher Prices will attract a Strong Seller from past Auctions.
Seller has a small window, likely paired with Headlines to Flush deep lows.
