– Buys on close above 1706.500 as price breaks above the Consolidation Zone that has been held since New York Stock Exchange Session on Tuesday based on the Hourly timeframe, Targeting 4h Previous Support formed on (12.09.2022) at 1713.000, Leaving Runners to 1h Previous Support formed on (13.09.2022) at 1720.500.
– Sells on close below 1693.800 on the break of the previous Daily Low targeting 4h Support formed at 1685.000 leaving Runners to Weekly Previous Resistance formed on (09.03.2020) at 1675.000
– The 1685 is a Major Support and Key Level based on the Weekly and Daily timeframe,
– Weekly Support : (20.04.2020) – (08.06.2020),
– Daily Support : (20.04.2020) – (22.04.2020) – (01.05.2020) – (07.05.2020) – (08.06.2020) – (09.03.2021) – (31.03.2021). As shown on the dates price has formed multiple Daily Supports within the 1685 level since the Daily candle from (09.04.2020) closed above Daily Resistance from (10.03.2020).
– High Impact News for Retail Sales m/m, Core Retail Sales m/m, and Empire State Manufacturing Index followed by Philly Fed Manufacturing Index and the Unemployment Claims to be released 30min after New York Stock Exchange Open, High volume expected with the NY leading to the news release.
– The breakdown of the No Trade Zone: There is a possibility for trades to play out within the No Trade Zone (127 Pips) but its highly recommended to put your trades within the best outcome possible to have stress-free winning trades and not to force them, Since CPI News on Tuesday price has formed Resistance at 1706.500 (NYSE) and Support around 1700 and price has been consolidating within that zone until Wednesday 4h before Daily candle closed where the price dropped below 1700 and didn’t close back in the Range, If Daily closed above 1700 Sells below 1700 would have been ideal to fill the Previous Daily candle low at 1693.800 and the no trade zone would have been 65 Pips rather than 127 Pips.