Tuesday, November 21, 2017

Node Support Breakout Over Prior Distributions

Before the 9:00am opening, we identified the market profile node support. The high volume open gave the buying market the supply it needed. Price could not break lower and we watched the high volume bias above the mode.

Entered the trade at 56.61 with a initial stop loss at 56.44 and a target at 57.11 Took +45 ticks on the trade as it hesitated below the 50 tick target at 57.11. Price later went well through the target level.

Monday, November 20, 2017

POC Delivers A Reversal At 56.12

London session produced an 80+ tick move to the downside and the neutral zone called for an early short but did not want to sell the low of the market. Price reached prior distributions and bounced into Friday's rally point of 55.95.

Once the price was able to break above POC the buying market gained strength and a noticeable behavior change was evident. Trade entry was at 56.12 with a rotation target at 56.62. 56.35 node slowed the market down as time ran out. Took 25 ticks in the trade.