Market Context :
The market reverse at "B" period low and forced overnight traders to cover their shorts up to Tuesday POC at 55.77 which was the last short term traders short accumulation level. Short term traders protected their position leaving a selling tail rejecting the short term inventory pivot and reinforcing the day down trend inside the balance. ( last 5 days one time framing down - see image on the left ) That level could have been a good opportunity to reverse position. Remember that 55.77 is a short term resistance ( short term traders inventory short and comfortable ) and today's developing value was overlapping to lower and it would have taken a huge move up to bring value to unchanged. The market traded back down bringing the POC down in "G" period and yesterday's low came into play for a second time. The story of the day was probably the overnight short covering that pushed the market from its low to its high. That was close to a balance day as we traded mostly inside yesterday's range. Today I can see at the most three opportunities Things to consider for tomorrow : We are accumulating short inventories here at the low of the 9-Day balance. We have to be ready for a possible big move because of the market location at the low of the day balance. 
Good trading !
- Monthly and weekly up trend
- Day balance ( 8-day)
- 3 Poor Highs ( 9/11, 10/11, 14/11 )
- 2 Poor Lows ( 30/10, 2/11 )
- Yesterday's prominent POC
- Buying tail from yesterday
- We opened near the day balance low
- Overnight : short ( pivot 55.54 )
- Short term traders : short ( pivot 55.77 )
- Inside yesterday's range
- Conviction : low
The market reverse at "B" period low and forced overnight traders to cover their shorts up to Tuesday POC at 55.77 which was the last short term traders short accumulation level. Short term traders protected their position leaving a selling tail rejecting the short term inventory pivot and reinforcing the day down trend inside the balance. ( last 5 days one time framing down - see image on the left ) That level could have been a good opportunity to reverse position. Remember that 55.77 is a short term resistance ( short term traders inventory short and comfortable ) and today's developing value was overlapping to lower and it would have taken a huge move up to bring value to unchanged. The market traded back down bringing the POC down in "G" period and yesterday's low came into play for a second time. The story of the day was probably the overnight short covering that pushed the market from its low to its high. That was close to a balance day as we traded mostly inside yesterday's range. Today I can see at the most three opportunities Things to consider for tomorrow : We are accumulating short inventories here at the low of the 9-Day balance. We have to be ready for a possible big move because of the market location at the low of the day balance. Good trading !