Trading Plan SPX500 04242020

These are my hypotheticals for today’s EU session of SPX500. Basically the levels that I will be looking at where it has a higher probabilistic chance the market will start reacting. Then I come up with ways I think the market will react around those levels. During the session I then wait for the market to hit those levels and either confirm or reject my hypothesis. I hope that makes sense. If not, please get in touch with me. I am not selling you anything. I just love to talk to people that are on the same path as me. So don’t be shy and reach out. 

Observations of the market

• M: Q point not active. In the process of retracing more than 50% of last month’s candle’s body but still a week left in the candle.
• W: In the middle of the Q point range. Not optimal trading location. Pullback to VWAP after already testing it last week. This week we opened near last week’s candle high and have tested VWAP again.
• D: Evening star below 50MA
• H4: H4 Q points active after newly formed H4 Supply ZOI. Price nearing QLo at Demand ZOI (5)
• M30: In process of testing KC level above H4 QLo
• Market Profile: Trading below yesterday’s low, range and PVAL. Market imbalanced.

Hypothetical

Hypo1: Short term trend continuation into H4 QLo

Entry Short below low of developing day 2763. Targets 2757, 2751, 2741

Hypo2: Prev. day low confirmed as resistance

Short around 2775. Targets 2763, 2757, 2751, 2741

Hypo3: Range 2763 – 2781