RTH opened with a false break of yesterday’s high (4727.5 vs 4729.5), and auctioned past yesterday’s point of control and to the lower balance zone (HVN). This is contextual review, which is very important practice  (at least for myself) to identify trade location. Actually entries relied on the skill of volume and order flow analysis, that’s a whole different story.

NQ Futures broke out from bracket on Monday. It retested the previous daily swing high 4676.5 and rejected at the Monday’s VPOC today gave me a hint that the breakout was for real (at least for day trading purposes), and market was trying to discover higher price levels.

It has been a long time since my last blog post. I have been trading. I thought I will write a quick review of FESX (DJ Euro STOXX 50 futures) since it is one of the product I frequently trade, and observe some interesting development now.

We are in a 7-day bracket (i.e Price rotates up & down without clear directional conviction.), and yesterday (Monday) we had a false break at the bracket low and previous swing low at  3375, and immediately, we saw short covering which brought the market back to bracket high. The day ended with a short covering profile (P-shaped profile).

This is a going to be an eventful week with ECB president speaks, AUD, GBP interest rate decisions and Non Farm Payroll at the end of the week. It will be interesting to see if we can finally breaking from this box.