Pre-Market

DXY

I think DXY is gonna continuously dropping until touching the higher time frame trend upper line.

ES

Since the pre-market also dropped, resistance now lies in the gap between 5273-5287. There's a high probability that the price will test the 5273 level multiple times before dropping and moving towards the next targets at 5232 and then 5174.

However, there is also a chance that the price could rise again. If it breaks through the 5273-5287 area, it might return to the bottom of the trading range.

Note that GDP data will be released before the market opens, which could impact these movements. Given that the DXY is expected to drop for a while, I am seeking a long position. Once the price reaches the 5273-5287 area, I should avoid shorting immediately and wait for the market to react.

CL

Crude oil is currently in a trading range. Although it broke out the day before yesterday, the higher price was immediately rejected by the market. Given that the bulls are somewhat stronger and the price is now forming a small trading range, I expect the price will not drop significantly and will likely attempt to retest 80 again.

GC

I'm a bit confused about GC because the broker changed the contract to GCQ2024. All the prices have shifted, and it's unclear where to draw support and resistance levels. I shouldn't trade gold today unless there's a strong trend. The good news is that the DXY is expected to drop for a while, so I should look for opportunities to long gold.

Post-Market

DXY

DXY is moving in the expected range

ES

As expected, despite the price rising to the boundary of the gap block due to the released GDP data, the price movement proceeded as anticipated. The first bar attempted to touch the gap but failed. After a second test, the price began to fall. The correction occurred within a broader wedge, indicating that the bearish momentum was not very strong. After four pushes down, the market started to reverse around 2 PM. The market retested the gap area and formed a higher double top major trend reversal, leading to another crash and eventually attempting to touch 5222.

My intraday trading performance was still lacking because I did not follow any structured price action strategy. Instead, I traded based on bias without disciplined entry and exit points. I need to adjust my trading strategy to strictly follow price action. With premarket analysis and adherence to price action principles, I should achieve better trading results.

CL

The biggest problem in my CL trading is that I still do not follow any price action rules. The price went up twice and formed a double top, then started to crash directly down to the neckline. It was obviously in a short trend, yet I was still expecting a reversal and kept adding more positions. This kind of trading is detrimental and needs to change.