NFP Friday, and my trading station decided to act up today. …well what can you do.
Anyway, here is the day review after I replayed the market. No live trade was taken today, this post is meant to review price action of the past session.
Hourly chart at the left, the break of fanning trend lines provided the first clue of potential trend change. I waited for NFP movement to settle. The first trade was a mean reversion setup. The break and pull back to the broken support trend line at the developing value area high around 17820 provided a chance to join the rotation into, at least, developing value area low.
Second trade setup appeared at the retest of downtrend and VWAP around 17780. I expected market to start auctioning down from here given the context of the day. Target for this trade was yesterday (RTH) low.
The last setup of the day was a reversal trade around yesterday’s (RTH) low. This came after the break of down trend lines, price consolidation, and over-and-under pattern formed.
That’s all for the NFP Friday.