#NQ #NQ An attempt to break outside of the flag. The previous high is pivoting level now. The price may oscillate around it until accepting/rejecting. 
So far a reaction from 420 level mentioned in the previous tweet.
Rotational charts, like p&f offer a better inside for me through price action patterns.
market is fractal. the same patterns are everywhere.
Lack of upside momentum. Breakout buyers are first to go.
how the price reacts on pops from support is a clue whether we see higher or lower prices.
Contra trend trading is not easy in a dull market environment. A rejection from an inflection level is the only factor that I consider. The reward could be significant.
420 -> 320 short is closed. 320 is the session VWAP. Expecting a wake-up call for VWAP driven Algos.
Market structure has better chances to hold in a low volatility environment.
Sell side is challenging an origin of the last bull flag. A few small bear flags are created along the way. This is not a sell off - a drifting down action. However, the previous week high rejection may lead to the beginning of the wave 4, see the pre-market tweet.
Failure to hold the origin of the flag. A potential of the fake out above the previous week high. This may lead to a volatility spike.
sell side is in a short term control below 300. Area of 200 is a place where the buy side may show up for a bounce back to 250.
fake outs are costly. 8 out 10 times the price returns to the opposite side of the balance area.
Fake outs are common for a balanced environment.
The action since the US opening. Weekly projected levels and zones in play. Rejection of the previously accepted levels is a sign of a short term sentiment reversal. Well seen on the chart.
those are reversal bars, similar to p&f. much easier to visualize rotational price action patterns for me.
The short term sentiment is bearish now, the price is consolidating between 2 zones. A breach of the zone above may flip the sentiment back to buy side. A breach of the zone below would confirm the current sentiment. That's all one needs to know to keep it simple.
Price is back to monthly VWAP.
The ball is in buyers court.
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