ES Morning Shorts From Last Nights Idea
Updated
Good Afternoon everyone,
I will show in depth order entries in this post, read the updates to see.
This idea was formed last night around 10PM NY Time. I originally was hoping to trade up into the most recent Order Block (green path arrow) during the London session and end at the Terminus -4 around 8:00AM NY time. I then would've liked to see accumulations followed by a Turtle Soup or sweep of that low at the Terminus -4 during market open. I wanted to take countertrend longs in that area into the Order Block resting above the Liquidity Void, this move is denoted by the orange path arrow.
However we ended up going straight to Terminus -4 during London and we rallied above Asia accumulation into the Bearish Order Block sitting right above (green path arrow). We took shorts from this area and we were looking to target the Sellside Liquidity below to complete our MMSM (Market Maker Sell Model) on the 15M chart. We were able able to bank 2.1% off the move just by taking profits at the short term low 4507.5 and holding a few more contracts to a slightly lower price once we noticed price wasn't wanting to break the low at the Terminus -4 just yet. The Sellside Liquidity is still a viable target, we have just been choppy since right after open so taking profits is worth the time spent waiting for price.
Hopefully this was more insightful on how to form an idea for the next trading day. I will commit to making more informational posts like this. Please read the updates for a 5M look at the entries and a reference to the MMSM.
I will show in depth order entries in this post, read the updates to see.
This idea was formed last night around 10PM NY Time. I originally was hoping to trade up into the most recent Order Block (green path arrow) during the London session and end at the Terminus -4 around 8:00AM NY time. I then would've liked to see accumulations followed by a Turtle Soup or sweep of that low at the Terminus -4 during market open. I wanted to take countertrend longs in that area into the Order Block resting above the Liquidity Void, this move is denoted by the orange path arrow.
However we ended up going straight to Terminus -4 during London and we rallied above Asia accumulation into the Bearish Order Block sitting right above (green path arrow). We took shorts from this area and we were looking to target the Sellside Liquidity below to complete our MMSM (Market Maker Sell Model) on the 15M chart. We were able able to bank 2.1% off the move just by taking profits at the short term low 4507.5 and holding a few more contracts to a slightly lower price once we noticed price wasn't wanting to break the low at the Terminus -4 just yet. The Sellside Liquidity is still a viable target, we have just been choppy since right after open so taking profits is worth the time spent waiting for price.
Hopefully this was more insightful on how to form an idea for the next trading day. I will commit to making more informational posts like this. Please read the updates for a 5M look at the entries and a reference to the MMSM.
Note
Here is a view of the trade taken on the setup. This is on a 5m chartNote
Here is what the risk was. 1:2.74 trade setup. Although we took profits early, see original post or order executions. We profited 2.1% on the trade and still think it needs to take out the Sellside Liquidity but may have to follow the orange arrow path before doing so.Note
And finally an example of the MMSM (Market Maker Sell Model).Thanks for reading, let me know what other concepts you would like to have us cover or give real trading examples of.
Trade closed: target reached
The overall target was hit overnight. :-)
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