Pre-market, Wednesday, March 24, 2021
Good morning traders!
Here is the recap of the market:
20 days trend: up, and a bit stronger than last night
VIX: same level as last night. It went and did a U turn at the bottom, consistent with the climb during the night... the fact that it came up makes me feel like we eiter are at a level were we will find some resistance, or rejection.
Market: The prices stayed low for a little while, until the broke free, and came to the middle of the current VA.
Forecast of the market:
Seeing how the previous and current VA have a pretty molded gaussian vurve on their volume, I can't avoid to see that we might be in the middle of the creation of a new bigger VA. Thinking of that, here are the three scenarios I see for this market:
1.-After we manage to get through the current resistence at the middle of the VA, we'll come to the Highs of this VA, and experience some resistence once more, but the market will finally push to the hiher ground, creating a new bigger VA.
2.-We do not create this new bigger VA, but instead get rejected at the top of the current VA, and balance around it.
3.-We do not balance after rejection, instead break down, looking for cheaper prices.
Current order: Long at 3918. TP 3963. Wrong at 3903.
Here is the recap of the market:
20 days trend: up, and a bit stronger than last night
VIX: same level as last night. It went and did a U turn at the bottom, consistent with the climb during the night... the fact that it came up makes me feel like we eiter are at a level were we will find some resistance, or rejection.
Market: The prices stayed low for a little while, until the broke free, and came to the middle of the current VA.
Forecast of the market:
Seeing how the previous and current VA have a pretty molded gaussian vurve on their volume, I can't avoid to see that we might be in the middle of the creation of a new bigger VA. Thinking of that, here are the three scenarios I see for this market:
1.-After we manage to get through the current resistence at the middle of the VA, we'll come to the Highs of this VA, and experience some resistence once more, but the market will finally push to the hiher ground, creating a new bigger VA.
2.-We do not create this new bigger VA, but instead get rejected at the top of the current VA, and balance around it.
3.-We do not balance after rejection, instead break down, looking for cheaper prices.
Current order: Long at 3918. TP 3963. Wrong at 3903.