Bullish FVG 03SEP23
After identifying where the market broke structure; forming a higher low that did not overlap with the last lower high over the impulsive move that was not only a means of capturing liquidity but also used as a stop hunt of the buyers climax. it was evident to me that there was the manifestation of demand in the form of a fair value gap. It just stood out to me after seeing how the market was manipulated so i applied fibs from the last lower high to the end of the move which is where i have it labeled UT. the 95% discount level corresponds with the 50% mark of the fvg so that plays as a another confirmation. i will be waiting for price to be distributed towards my point of interest and i will enter there for the buy when it reaches. There is a visible uptrend that had formed, that buy side liquidity will be fuel for the market reaching this p.o.i forming what i deem to be a true test of the Sow, giving a lovely buy opportunity.
i will be taking profit at the -95% because fibonacci often follows the law of correspondence, as above so below, inversely its the same, as below so above. after this position is complete i will transition into a sell position, because, supply has plainly manifested itself in the form of a bearish OB on the 1M timeframe. this is what i have labeled as the UTAD.
i will be taking profit at the -95% because fibonacci often follows the law of correspondence, as above so below, inversely its the same, as below so above. after this position is complete i will transition into a sell position, because, supply has plainly manifested itself in the form of a bearish OB on the 1M timeframe. this is what i have labeled as the UTAD.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.