April 25, 2025 PM Plan

Looks like we had a very choppy, tight range morning session. And, typically what happens after consolidation / chop / tight range, is expansion.

We're getting that this afternoon. We are currently in the overnight bear gap created the night of 4/2. Gaps tend to hold as firm support or resistance. But, once penetrated can get sliced through VERY quickly.

The hourly chart is firm bullish now. As is the 10m. Now that I'm starting my day we're just no approaching the call trigger, which can act as a point to start consolidation.

The bias and plan will be to see how price reacts in the ribbon before entering calls.

Pretty simple plan, but hard to execute. The stochastic is approaching an extreme level, the squeeze has played out, we're in a bear gap, and at the call trigger. All suggest caution, in the face of a clear hourly and 10m trend to the upside.

The bias and expectation is upside continuation, but the R/R at the current price is not favorable for an entry. So, we wait for price to test the 10m ribbon, and once there, look to the 3m for a clear reversal move up.

The VIX 10m is showing support at the put trigger and clear divergence at an oversold area, so yet another reason to be extra cautious playing the upside, while at the same time only allowing myself to play the upside given the trend strength.

This afternoon will be a test!