March 26: Weekly Analysis
News Embargo
No major news events Monday and Tuesday
Wednesday: Manufacturing PMI at 10 am NY, not a market moving event but suitable for slight price manipulation
Thursday: Jobless Claims at 8:30 am'
On the weekly chart we are right now printing at the Weekly Bearish Orderblock. The price did not seek sellside liquidity on the weekly. Therefore my bias still remains bearish. However, we are at a time of the year where seasonality kicks in, so one has to be nimble with their entries and exits.
Here are some key levels that I would be closely monitoring price action at:
Weekly Orderblock <Blue Lines>
Upper Threshold: 4089.75
Lower Threshold: 4010.50
Daily SIBI <Maroon Lines>
Upper Threshold: 4079.25
CE: 4060.25
Lower Threshold: 4041
The Targets for the week are: <Golden Lines>
Target 1: 3983.25
Target 2: 3964.25
To be more nimble and be able to trade intra-day price fluctuations, here are the last four NWOGs <Black Lines>
NWOG 1-
Upper Threshold: 4010.50 (coinciding with the lower threshold of the weekly orderblock)
Lower Threshold: 4008.00
NWOG 2-
Upper Threshold: 3963.75
CE: 3955.75
Lower Threshold: 3947.75
NWOG 3-
Upper Threshold: 3920.50
Lower Threshold: 3913.50
NWOG 4-
Upper Threshold: 4089.25
Lower Threshold: 4086.75
Have a great trading week. Be Safe!
No major news events Monday and Tuesday
Wednesday: Manufacturing PMI at 10 am NY, not a market moving event but suitable for slight price manipulation
Thursday: Jobless Claims at 8:30 am'
On the weekly chart we are right now printing at the Weekly Bearish Orderblock. The price did not seek sellside liquidity on the weekly. Therefore my bias still remains bearish. However, we are at a time of the year where seasonality kicks in, so one has to be nimble with their entries and exits.
Here are some key levels that I would be closely monitoring price action at:
Weekly Orderblock <Blue Lines>
Upper Threshold: 4089.75
Lower Threshold: 4010.50
Daily SIBI <Maroon Lines>
Upper Threshold: 4079.25
CE: 4060.25
Lower Threshold: 4041
The Targets for the week are: <Golden Lines>
Target 1: 3983.25
Target 2: 3964.25
To be more nimble and be able to trade intra-day price fluctuations, here are the last four NWOGs <Black Lines>
NWOG 1-
Upper Threshold: 4010.50 (coinciding with the lower threshold of the weekly orderblock)
Lower Threshold: 4008.00
NWOG 2-
Upper Threshold: 3963.75
CE: 3955.75
Lower Threshold: 3947.75
NWOG 3-
Upper Threshold: 3920.50
Lower Threshold: 3913.50
NWOG 4-
Upper Threshold: 4089.25
Lower Threshold: 4086.75
Have a great trading week. Be Safe!