News: Consumer credit @ 3PM
Daily chart notes: Daily chart has been in a range recently. I still need to be mindful of a continuation of the bigger up trend.
MP Notes: Fridays session moved lower initially and then moved back up into its value area high and closed there. Globex placed value slightly higher up giving us a balanced session going into today's trading. Most of the volume has taken place higher up on the range.
Trade plan: We are in the middle of the recent range and globex has been balanced. With the lack of news catalyst out today im expecting the market to balance. I will wait for the market to set up is IB before taking any trades. Because i like to see where the sellers and buyers are going to make a stand for the session. We have a big VPOC area below the market around 1315-1318 area as long as we can stay above this im looking at a test of the top of the balance area around 1332 and then 1343. Be patient and relax.
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