Analysis of the day by indicator family:
Market Forces: XBP Bulls and Bears Support and Resistance Levels:
We can see clearly 3 key levels where the Bulls and Bears forces have given us clues of support and resistance levels: (1) 1832 (1.1) 1810-1806 (1.2) 1820.
We will keep these values in mind for tomorrow’s trading session as strong candidates for support and resistance areas.
The rest of the levels printed by the indicator gave us good entry points.
Market Levels: XBP VWAP and XBP Key Market Levels:
(2) The main VWAP area had a lot of back and forth action. Remember that the VWAP level is tracked by many traders and you can always expect bounces and strong breaks around this level. Also is very important to keep in mind that many retail traders place their stops behind the “VWAP Wall”. Smart money knows that and they run to hit those stops.
(3) Once again the Open Range levels were key for the day. Not that much the low today, which was very near to the main VWAP level, but the top which was also the top of the day. Coincide? Not really…
Market Players(or Tape Indicators): XBP Market Players and XBP Tape Speed:
Very good clues today with the combination of these two indicators. At (5.1) the top of the morning session come marked by a bunch of blue bars (high volume) and high speed tape bars (4.1). The market slides down after that until the big money enters again in the market buying the lows, shown here by the green bar (highest volume of the day) inside a green circle. That level area, 1810-1806, remained as the bottom of the day.
In a typical pattern, the market rallies from this first big money entry to retrace again “to test the lows”. At (5.2) the big money enters again in the market with blue bars clearly highlighted by the (4.2) high tape speed bars. Then the market rallies up to the very same level (18312) where everything started. Big money players close their positions with blue bars without high speed as they close the positions calmly.
Hope this analysis helps to improve your trading.