Daily Plan 8.3.23
Patient Profits: Navigating the Markets with Precision
Good morning, readers!
The day has finally come when the markets have sold out of the key value area that has fueled this strong rally. This event is crucial as we look for any signs of potential selling, and therefore, our focus in this morning's newsletter will be on breaking back into the value area or using the Value Area Low (VAL) as a resistance level.
I want to clarify that I won't automatically suggest short positions based on the VAL, but instead, I favor a break below into the next value area high. To help you better understand these concepts, I have a dedicated section in this newsletter for explaining Value Areas, which includes the Value Area Low (VAL), Value Area High (VAH), and Point Of Control (POC). If you're new to these terms, I recommend checking out our "Introduction to Volume Profile" guide for a comprehensive explanation.
I have intentionally made this post accessible to everyone, including our free subscribers, because I believe that valuable information should be shared with all our readers.
As you continue reading this post, you'll find our analysis of Apple, Amazon, Square, Airbnb, and Bookings Earnings. Make sure to read it all the way through to get the full picture and make well-informed decisions in your trading activities.
Aside from the earnings horizon, if you want to use my exact profile setup that is being used to pull all these levels here is a share link: