Review 28th of January 2016

20160128_4500t_Review

Review of market action for 28th of January 2016:

  1. XBP VWAP: The indicator of the day! 🙂 Price bounce back and forth the VWAP level all along the day. Specially difficult was the second part of the day, with little action and very choppy market in a tight range of just 5 points.
  2. XBP BB SR: Good signals, throughout the day, specially the ones highlighted with the white arrows. But no indicator is perfect and the support and resistance printed around 09:30 were not accurate (highlighted with the leftmost white rectangle). Also the second part of the day signals, highlighted with the rightmost whit rectangle, despite being accurate, shall not be taken into account. Remember, that the sole purpose to add the lower line indicator is to give you an idea of the strength of the Bull and Bear forces in the market. Place trades only when the lines are coming from extreme values. If they chop around, just stay away from the market. Undecided markets tend to grab your money and left you behind.
  3. XBP Tape Speed: Two signals in the whole day and not accurate as they happen during choppy market. Check the strength if the Bull and Bear forces to see if you are in this type of a market.
  4. XBP Market Players: The first set of signals, right after 09:00 are most probably caused by news releases. It is interesting to see how that same level stood as the day resistance that couldn’t be broken. Special mention to the only green bar at 09:25. Green bars are printed when the read is the highest of the day. Normally they happen during the intraday session, as trades are fewer but bigger. Interesting to see how the price level at which this green bar appeared, 1878, stood as a key support level with repeated high volume blue bars. Also that level was Yesterday’s close (dotted dark red bar). This tell us that the big market players didn’t want to let the market close below previous day’s close. Watch this level 1880-1878, for future days support.

Finally the screenshot of 1,500 ticks for you to identify the same key points but at a lower time frame:

20160128_1500t

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