ES NQ YM RTY GC SI | Profiles and Positioning | Fib Levels | 2.4.25
For new subscribers—
I use Fibonacci Sequences as the core of my analysis. I do implement both mechanical and contextual levels (from auction theory) in my analysis. I typically use mechanical levels to identify potential areas of support/distribution.
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I color code just so they are easier to follow along and understand
Blue - potential discount zones (support levels)
Purple - zones I’m looking for price to defend, (line in the sand)
Red - premium zones (resistance / distribution zones)
News on the schedule for tomorrow
For earnings we have
Before the bell
After the bell
Levels are basically the same as yesterday since we just traded in the extreme of the ranges.
Going into tomorrow
I’m kinda monitoring for what happens in the overnight session. If the bottom of this range doesnt hold — godspeed.
As we come down and test the extremes of the range, if market doesnt bid, and we get a failed breakout/continuation to the upside, it sets us up for the opposite to happen.
people will be positioned long down here, which will set up potential liquidations if we run into distribution if we retest overhead supply.
ATR expansion means wider stops, you will want to wait for confirmation before trying to trade a reversal.
it is very tempting to think oh well we can rally back up
yes we can— only if market bids.
If it doesnt bid price will just form balance at the low. Dont forget that.
Whats important is where we open relative to prior days close — sometimes its better to wait for initial balance to form before firing it in. It gives us a better idea of the market sentiment.
We do have news print tomorrow, IDK what happened to JOLTS or when theyre going to release it (if they release it)
