- Very tight overnight range.
- Overnight Low is a 45 degree line; actually even flatter than one. Assume it’s secure until it’s not.
- Recent highs are weak and are upside breakout levels for entering long trades.
- Buyers are firmly in control. Assume pullbacks are buyable if price above the ONL.
| Pre Market Indications | ||
| Opening In/Out Balance | in balance | |
| Overnight Inventory | balanced | |
| Current Price/Overnight Range | upper third | |
| Shock and Awe | no | |
| Potential for Early Trade | no | |
| Short Term Bias | bullish | |
Scenarios
- Gap rules are in play. Massive true gap higher. First scenario is always the potential fade. Look for failure to take out the ONH to increase odds of success. Short the first one minute low or a cross back down through the open should the opening drive be higher.
- Pay close attention to gap rules #2 and #4. Large gaps are the MOST difficult type of market play for the day timeframe futures trader. Newbies should sit this one out.
- There are tons of references below us but as disucssed in the video many may be moot due to gapping so far above them.
- Any gap and go continuation should be monitored for continuation very closely.
| Today’s Market Profile Chart |
The chart provided is from WindoTrader. CLICK HERE to learn more about the ShadowTrader discount. Interpret the chart above with the Market Profile Key.
| Key Levels for Today | ||
| 4499.25 | VPOC 9.20 | |
| 4490.25 | ONH | |
| 4464.25 | Top of Spike 9.20 | |
| 4443.50 | Top of Gap | |
| 4436.75 | RTH High / ONH / Weak High | |
| 4420.25 | ONL / 45 degree line | |
| 4406.00 | Top of Single Prints 11.10 | |
| Virgin Point of Control (VPOC) | ||
| 09.14.2023 | 4554.75 | |
| 09.20.2023 | 4499.25 | |
| 11.02.2023 | 4336.00 | |
| 10.24.2023 | 4270.50 | |
| 10.27.2023 | 4138.00 | |
| Today’s ES and NQ Market Profile and Pivot Point Numbers | ||
| Value Area High | 4434.75 | 15580.50 |
| Point of Control | 4425.25 | 15545.50 |
| Value Area Low | 4417.25 | 15520.50 |
| R3 | 4468.25 | 15727.00 |
| R2 | 4452.50 | 15658.25 |
| R1 | 4438.75 | 15602.75 |
| Pivot | 4423.00 | 15534.00 |
| S1 | 4409.25 | 15478.50 |
| S2 | 4393.50 | 15409.75 |
| S3 | 4379.75 | 15354.25 |
