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S&P Daily Pre-Market Prep 4/20/17

Posted by Peter Davies on April 20, 2017

2017-04-20_18-18-08.png

Ugly
2017-04-20_18-18-18.png

The weekly profile provides a better perspective most trading has been between 34.50 and 45 and a gap in the middle. So anything outside of that range is a place to look for a fade.
 
2017-04-20_18-19-26.png
 
 
We can see here, what we had yesterday wasn't more than a probe outside the range.

Of course, the range will break. So outside the range, look for headfakes. If none, go with continuation otherwise trade back in.

Plan
- Presume range will hold and trade back to the middle once it's clear a test has been made
- Play a break after we are past the headfake zone & have decent volume
- Try to take an early trade

Weekly Numbers
Range - 2322.75 -> 2349.25
Value 2333.25 -> 2344.25
S1 - 2313.25, R1 - 2352.50

Daily Numbers
Range 2331 -> 2349.25
Value - 2338.25 -> 2348.75
Globex 2332.25 -> 2341.50

Settlement – 2333.75

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75
 

Jigsaw-trading.png 

 

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