Trade Inflection Trading from the trenches Pre Open 4th of March

Mar 04, 2022

HI All

Well what a fecker of a day yesterday was. Broke out finally … the 395/398 hit my 414 level, then RTH open and slam. Those moves can be brutal and catch you out. Still no clear sign of what this market wishes to do. We are still in the range of 4395/4260 with no follow through on either side.

Yesterday I gave you two levels for the breakout 4395 and 4367. As a reminder here is the what I said “Todays levels will be the following.

Bull bear Line 4385

above 400 414 414 430 450

below 4367 4352 42 330 21 07” Ultimately we hit the 42 level and bounced pretty much all the way to 395 and then at margin time we sold off yet again.

Today

News overnight that the Russians have hit a Europe’s largest nuclear plant has somewhat spooked the markets … As I sit here at 05am EST The Dax and FTSE have been destroyed down 3% & 2.7% respectively. What ever the news we still have to trade levels and price.

For today I will trust my 3200 Tick chart as I do every day.

The arrow yesterday was back test of 42 and off she went. Today we will watch this as our Bull Bear Line - Bulls need above this and 371 then 390/400 to make headway. Below 42 we have 317 308 301 284 260 below 260 then we would be looking for 200/170 area.