Wrapping up

Plus weekend flows

Hi Traders,

I am going to head out in a bit and wanted to wrap up the session. Weekly plan will be out later on Sunday and next installment of Order flow education on DOM, only for subscribers ☺️

My play was to sell on any rallies into 4580-4620 and wait for the break of 4556 for a deeper sell. We opened way above 4556 and tried to take out substantial order flow level 4620, and failed. The open was actually quite good, goaded by low wage growth and hope for more stimulus by FED. .

However these hopes are fading every day, with more and more negative economic indicators. Powell needs to step up and calm the fears. Anyways I digress.

So we opened at 4595 which was yesterday failed breakout. I always like these levels as low risk, short term plays. After about 10 minutes and 15 points, we fell back below 4590 which propped me to send this Telegram:

Telegram Warning Broadcast for subscribers

After I sent my post, there were no trades, 0 trades above 4590. And now 3 hours into the session, we are trading at 100 handles lower around 4500.

I do think the sell for the day is now done, unless we start selling below 4497.

However the close at 3 PM may be a tell. A good close for bearish continuation next week will be between 4539-4550 in my opinion.

A close into 4510 or lower will indicate a lot of fear and panic which may lead to a weekend gap down into 4460-4480 and a bounce, albeit a temporary one.

We bid 4522 at time of this blog.

On a side note , thank you to every one of you for making this substack almost 7500 subscribers strong. This is all from ground up and a result of a community of like minded, serious traders like your self. To pay it forward, I wanted to offer 5 one-month memberships. However I received 250+ messages so decided to bump it up to 10. Will share names of winners later this PM 👍

Orderflow Community

Thank you ☺️

~ Tic

Further reading: Friday Plan 4556 and 4620

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