Daily Plan 6.13.23
Good morning traders!
Stunning session yesterday with plenty of warnings sent out that worked side by side with the Newsletter. Emini long level 4307 was the exact low of the session! This brought upside of +38 handles into the close. Many tweets sent yesterday early in the day asking traders why they would want to short Indices at highs if value has held the entire way up.
SPX Contracts went 0.7 to 16 yesterday for a 2,100%.
Not only this but Nasdaq levels were added to the plan with value areas.
14612 level produced +213 handles in upside.
To be more specific on this, both indices had a trend day as they held trend. Sounds obvious but many are caught shorting up at highs only to look up at a train that is moving full speed at them.Keep it very simple so you can avoid being hit and possibly hop on the train for the ride.
Now to have precise levels will be from practicing volume profile everyday. Volume profile will show the (VAL, POC, VAH) areas of interest then identifying if we are balancing or trending will be the next step to making decision on the levels. Meaning, if were in an uptrend I do not want to short VAH like I would in a balancing market. The reason is simple, VAH will break if trend remains valid. Trend remains valid until we break out of the upper value we are sitting in. In a downtrend I will focus on shorting rallies (VAH) and avoiding longs at VAL. Balance focuses on shorting VAH and longing VAL. POC is the most fair price so while inside any value area we can assume that price will want to go back to the POC at some point. Main target always is set to POC. If POC is closer to entry (VAH or VAL) and main target is not as far out, the risk reward is lower and the setup may be avoided.
Study how profiles develop and I highly recommend making your own Value Areas and not using the standard deviations (68%).
Make sure to read through my Volume Profile educational post!!!
Introduction to Volume Profile
Now moving on to the rest of the Newsletter.
Previous Day Recap
AAPL
[182.5 Calls 1.37 > 2.65]
TSLA
[247.5 Calls 6.8 > 8.95]
NVDA
[390 Calls 8.55 > 11.4]
MSFT
[327.5 Calls 3.9 > 6.7]
AMZN
[124 Calls 2.16 > 3.78]
AMD
[128 Calls 5.5 > 7]
GOOGL
[122.5 Calls 1.7 > 2.61]
META
[267.5 Calls 4.16 > 6.7]