NQ Price Action Journal

10:46 After a BO to the downside sellers were rejected at 30, from there looks like is all downhill, lets see what happens with S at 25.
10:54 Sellers gave up at S and buyers are pushing above 30, we are still within the context of the larger TR, so this break above 30 could be a FO.
11:01 25 is holding, as well as 30, new TR within the larger TR.
 
I liked yesterday´s journal entering method, I am going to do the same from now on, it saves time at the end of the trading session.

As for premarket analysis, here it is:

Daily:

We are on an uptrend within the context of the larger TR (50-150) the current wave is about to reach the top of the TR at 150 so that will be a level to watch during the day. LOLR is up with a R warning at 150.

60 min

Yest hinge had a failed downside BO that found S at 120, there buyers came in strong and took prices back into the TR where there was some congestion around the MP of yest hinge after failing to break above 135. The BO from that congestion fueled buyers to take the top of the TR at 135, now we are about to reach R at 50 before the open. LOLR is up with a R warning at 150.

5 min

After the BO from the TR data at 8:30 helped to add volatility to the market, but principles held, S at 135 contained sellers from reaching the LSL keeping the trend up.

At the moment of the post looks like 145 is providing R and we are currently in what looks like a test of this level. Just as an observation it seems like we are also overbought in the TC, so I think that the odds could be changing against buyers here. LOLR still up, but this could be a REV opp.
 

Attachments

9:35 At the open buyers failed to take the MP of the last downswing but are finding S at 35.
9:51 The open was tricky for me, that LH at 9:37 would have generated some sort of doubt as SL was broken. Then the RET after the break of S could have been a new opp.
 
10:21 we found S at 100, as expected and after a HL and a Break of SL we are still pushing towards R at 25 and 35.
 
10:25 LH and break of DL, R at premarket low

1028 LH failed, was just a deep RET. The fact that it failed to breach the 50 % RET level was a sign of strength.
 
10:36 we are at the bottom of yest TR, lets see if Sellers defend the downtrend.
10:45. nope, we are back inside yest range, and still in an uptrend in the 1 min.
 
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