Discuss overall market structure referencing previous week.
We rotated towards the lower end of value and pushed even lower, I was planning on seeing a bounce at the 4500 area but buyers aren't present. In theory, we need to find an agreement on price because we are in price discovery mode.
Discuss playbooks and anything learned throughout the week
When there is a oddly developed profile to the point of where you can’t identify imbalances then its good to call it a day, it takes discipline to make that decision. Its hard to not trade but it began to not be hard for me when I understood staying cash is a position itself.
After a failed attempt to breakout of value, look forward into playing the rotation instead of having a bias to reattempt the breakout, a lot of capital can be saved if you focused on the facts rather than the beliefs of price.
After 2 days of data on the weekly profile, the weekly volume profile is very strong. Understanding where we are at on a weekly profile can guide us into a much stronger approach into our thesis for the day.
Discuss scenarios for next week.
I expect value rotation under 4480, lack of agreement on price so we may develop in this area for the week. Above 4480 I am bullish and theoretically can push us to 4680

