Yesterday we saw a ranging day in the NQ during the New York session, today price opened with a small gap down but this has already been filled. So far during London session price has been trending lower ahead of major data releases coming out of the US.
Trading Plan
Today we had a daily open in the upper quartile of the previous day price range, statistically we could expect the previous day high to be taken today, this bias is further strengthened from our ES technical analysis which shows the ES has a wickless daily candle and unfilled opening gap to the upside. We should however be aware there is a lot of high impact data due from the US today therefore we should not put to much weight on statistics.
Todays levels of support for the Nasdaq where price may, or may not give a reaction are:
- 20,078 – pdVAL, aPoc and single print fill.
- 20,960 – S/R Zone, 0.75 fib retracement.
- 20,790 – Untested value, aPoc.
Todays levels of Resistance for the Nasdaq where price may, or may not give a reaction are:
- 21,399 – Settlement, pdPOC, pdVAH.
- 21,419 – pdHigh, poor highs repair.
High Impact News events to be aware of:
- 13:30 GMT – Jobless Claims, Retail Sales, PPI.
- 13:40 GMT – FED Chair Powell Speech
The above levels are intended as areas of interest only, they are not in anyway financial advice and a valid entry trigger, stop loss placement and target needs to be considered before entering any position.