Peter’s Premarket Perspective | Monday, March 15, 2021

Peter Reznicek

The Market Profile value areas and ShadowTrader Pivots for /ESM21 and /NQM21 Futures are posted free every morning

in the ShadowTrader Swing Trader newsletter.

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  Key Levels for Today
3949.00 RTH High 3.11 / ATH
3934.25 Settlement
3924.25 ONL
3904.50 RTH Low / Lack of Material Excess

 

Tiny gap on both sides. Gap rules are not in play. Overnight inventory is very balanced and we are currently in the middle to lower third of the range. All of this speaks to a market that is in balance and has potential to remain so in the RTH session. Higher odds trades should develop later in the session rather than at the open. Responsive trade will be the M.O. unless the all time high or the RTH Low is breached.

  Scenarios

    • Overnight activity is in balance and has not exhibited any price exploration out of recent range. As such, assume responsive trade within the RTH range of the last two sessions.
    • The recent ATH may be a breakout point for initiative trade. Monitor for continuation if so.
    • Friday’s RTH Low printed a lack of material excess (the minimum two ticks needed to not be poor). That structure could be in need of repair on any liquidation break. There is a VPOC at 3890.00 from 3/10.

 

 

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Peter Reznicek

Peter Reznicek is the founder of ShadowTrader.net and writer of Peter's Premarket Perspective, a morning market profile blog to help people plan their trading day and organize their thoughts before the market opens. He can be reached at asktheshadow@shadowtrader.net.

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