Weak Weak Buyers

Macro


RPB of Y-PVAH in Previous Day.


Bulls are still weak. Weekly attempt to go rotational failing.


Profile

  • Poor Low
  • Value migration lower from CVA
  • O/N Rejection of the 1/28 CVAL // Failed Acceptance back above // Failed IBU (BACK TO VALUE)
  • As soon as we return back into PVA looking for PVAL, then Poor Low, then IB-D

The Trade

Components of This Trade

  • Macro Conditions Bearish
  • Recent Key Rejection of Y-PVAH
  • Recent Key Rejection of most recent CVA after failed IB-U Attempt in the O/N session.
  • Order flow and price action bearish.
  • Breakout fails and we accept back into PVAH, short on re-test.
  • Poor Low on the PVA to act as the conviction to hold past PVAL.