Daily Plan 3.19.24
Welcome back everyone!
Let’s kick this off with a recap of todays session and then move on to the video for todays levels.
Indices:
Today marked another excellent session, characterized by both the Emini and Nasdaq maintaining a range between the long and short levels. On the Emini, the highs were achieved precisely at the long target of 5240, following a robust overnight bounce that propelled the price above 5206 for the entirety of the session. The Nasdaq experienced a similar scenario, rallying above the 18149 long level and executing a strong move upward, surpassing the 18326 long target. Today's price action was picture-perfect, with both targets acting as significant resistance levels throughout the day.
Commodities:
Oil experienced a sharp rally from the 81.08 long level, reaching the 82.53 target in a straight upward move. There was minimal risk during the session as the price found support at the swing VAL and promptly rallied to the swing POC within this value area.
Conversely, gold witnessed subdued upside momentum as the price remained supported at the long level but failed to sustain further upward movement. The long level was at 2160.3, providing only a 7-handle increase before retracing back to the support level.
Stocks:
Today was a remarkable day for engaging in stock trading, especially for those seeking opportunities in AMD's downward movement. The price failed to break the low during the cash session but experienced a significant drop after hours, possibly due to NVDA holding an event. The price is now down by 5 handles and likely to continue this trend into tomorrow's session.
On the contrary, AAPL showed remarkable strength, with a premarket bounce off the 172.36 long level, resulting in a 5-handle increase to the highs at 177.70. META also demonstrated strong upside, primarily during premarket trading, with the uptrend continuing throughout the session. Similarly, GOOGL experienced a massive rally before the opening bell, pushing up 10 handles above the long level at 142.10.
It's worth noting that I haven't focused on shorting GOOGL, as the stock has witnessed a sharp rebound from its lows. Not long ago, it was at the forefront of stocks selling through support, but that's not the case anymore.
TSLA also exhibited strong upside momentum, closing the session at its highs and producing a 10-handle rally from the 164.78 long level. Overall, today's session was phenomenal for those who closely monitored stocks and indices.Make sure to show some love by dropping a like if you enjoy reading this post!