NQ1! Supply and Demand w/Volume Levels 5/6/24
Link to chart: tradingview.com/chart/vYaceW5a/?symbol=CME_MINI:NQ1!
Incorporating volume profiles from multiple TF (session vol. profile) to find previous day's VAH/VAL/POC and how we can potentially react off of them. With S/D zones, it can show as support/resistance for certain levels and aligning pivot points as 3rd confluence for potential influence of strong priced levels. Still working in how vol profiles fit into my strategy or may sit as a strategy alone.
For the week, Bears look primed, would love to see a target area of 5/6 VAH where pivot P is sitting (18120-18130). If we can continue to sell off, then 5/6 POC is 18100. Eventually pushing into demand levels around 18000s as marked on chart.
Bullish squeeze throughout this 1HR supply tops at18211 but would be interested to see us hit the Daily TF 4/5 POC 18276.50 as its close to pivot R1 on the 15min TF of 18270 as of time of posting. If we can push through then next level up 18303 lines up with multiple VAH/VAL/POC of 2 weeks of April's consolidation (look left).
Incorporating volume profiles from multiple TF (session vol. profile) to find previous day's VAH/VAL/POC and how we can potentially react off of them. With S/D zones, it can show as support/resistance for certain levels and aligning pivot points as 3rd confluence for potential influence of strong priced levels. Still working in how vol profiles fit into my strategy or may sit as a strategy alone.
For the week, Bears look primed, would love to see a target area of 5/6 VAH where pivot P is sitting (18120-18130). If we can continue to sell off, then 5/6 POC is 18100. Eventually pushing into demand levels around 18000s as marked on chart.
Bullish squeeze throughout this 1HR supply tops at18211 but would be interested to see us hit the Daily TF 4/5 POC 18276.50 as its close to pivot R1 on the 15min TF of 18270 as of time of posting. If we can push through then next level up 18303 lines up with multiple VAH/VAL/POC of 2 weeks of April's consolidation (look left).
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