Daily Plan 2/23/23

Hi Traders- To start off this post we go back to our thoughts from last night and our recap of today.

Splendid day today trading $UPST long for 27% and short for 48% which sadly turned out to be 150%+

2/22 Recap

1. Open or offer below $3994 can lead to a larger drop into $3970-$3976 levels. Initial balance will play a big part in this.

   Initial Balance is the first hour of trading for example 9:30 to 10:30 A.M. EST.

2. If we can bid above $4021 and support $3994-$4003 I think we can have a little inside day with some resistances above around 4042-4047 possibly 4054 before 2PM hits when #FOMC minutes are released that should entail a 20-40 point move on the futures.

RECAP:

WE PRECISELY BOUNCED FROM $3994 MULTIPLE TIMES AND REJECTED NEAR $4021-$4025 BEING OUR HOD.

SCENARIO FOR 2/23/23

My key levels for tomorrow are 4021-4025 where we can see some resistance.

Initial Support and or Resistance around $4003-$4007

Support at $3994 and $3986 (Low of Day of Today)

Scenario 1:

Initial Balance is going to be a key for tomorrow again initial balance being the first hour of trading. $3994 must hold for the bulls and $4007 must be broken out for them I believe. Then they would want to see continuation into 4021-4025.

Scenario 2:

For the bears you would want to see a close under $4007 and preferably $3994 for more downside into today’s lows at $3986 and lower into next support $3976, $3963 and $3954.

$3954 WOULD BE A BIG SPOT TO WATCH FOR A BOUNCE IF IT IS A TREND DAY.

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