General Lean;
Tough to make an accurate general lean until you see NFP reaction. I am not trading today so I will theorize what I think perhaps happens.
770/665/535 all very key. Can see loss and offers at all 3 levels. No real sell happens until you can have 535 offer. I think if that occurs you can see a decent down movement into the end of May lows.. around 190-065.
Ideas For Today;
NQ;
Interested in 770 short. Position for 535 break. Seek much lower. (285)
Interested in 665 breakdown. Especially if 770 does not tag at all. Again position or 535 break. Seek much lower. (285)
I don’t mind scalps long at 285.. likely back into 370-440.
Would also attempt 875 short but likely only into 770 if we do get that high. We may come try and make a LH vs PDH. This idea has merit on direct tags or failures of that level. Especially if not > PDH.
TSLA;
Tesla should be in play from the Elon/Trump altercation. VWAP from the last highs on the daily is 312. I would look to play for movement toward 312 (depending on NFP reaction. I don’t think bulls want to lose the premarket open.
I like offer 312s or very near it.. especially if it goes direct to 312. I would try and hold to target the PDL (or near it.. potential HL)
Break of 295 or reoffer… especially if we don’t get any upside movement at all after NFP.. again seek PDL area.. 280-275s.
Previous Day Recap;
770 recaptures worked both in premarket and RTH. Direct into 875.
This worked nicely on the failure. Direct tag did not work as we went higher but did not tag level above. Broke 875 and came into 665. Backtested 770 and reoffered 665 on the fail into 535. Add on should have been < 770 instead of 665. I think would have been 665 if 875 would have had direct rejection instead of failure.
535 bid into 665. Nice little EOD scalper. If bought in the OVN session on the recapture it also worked again. 440 had no setup.
Levels;
Same as yesterday.