Yesterday's daily closed as a doji. Price is coming lower and has taken out about half of the September 3rd candle, looking to engulf it and reclaim the bottom of that handle.
The one hour tells the overnight story: the session opened above VWAP, bounced around 29,425, fell to 29,391, ran back up into major resistance at 29,494, then came back down along the trend line below VWAP and is bouncing at 29,327.
On the five minute, that bounce looks like a real reversal.
This is trading education, not a signal or a promise.
The plan
One setup, watched in two stages. Stage one: the bounce off 29,327 continues and more likely revisits 29,391 by 9:30, with a possible reject off the trend line back toward the VWAP near 29,423. Stage two: if price fills anywhere in that zone or higher, the more likely move is back down — a revisit of 29,327, with room to 29,277. Both levels were on the chart before the open.
In the video
- 0:00Thursday open: down 88, the calendar into core PPI at 9:20
- 0:33The daily: yesterday's doji and the September 3rd candle
- 1:09The one hour: VWAP bounce, rejected at 29,494, back to 29,327
- 1:47The five minute: the reversal off 29,327
- 2:02The bounce case: likely revisiting 29,391 by 9:30
- 2:14The VWAP retest near 29,423 and the fill scenario
- 2:26The plan: back to 29,327, room to 29,277
- 2:36Questions go to ciycapital.com
Short clips from this prep
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Trading education only. Not financial advice, not a signal, and no promise of any result. Full disclaimer.

