Last week, EU went down after it touched a 1D Low crossing through a 1D FVG.
I believe this trend should persist as I recently discovered a 1W Sellside Liquidity Pool, and major news such as NFP are when Smart Money look to capitalize on those quickly.
(My mentioned non-concern on the trade's drawdown is because of ICT's Power of 3. Manipulation -> Accumulation -> Distribution.
In the context of a bearish trading day:
Manipulation: Price goes above the NY Midnight Open
Accumulation: Price consolidates and/or takes liquidity above the Open
Distribution: Often called "the real move". Price would enter a downtrend afterwards if Smart Money wants to push it down today.)
My HTF perspectives:
1D
1W
I believe this trend should persist as I recently discovered a 1W Sellside Liquidity Pool, and major news such as NFP are when Smart Money look to capitalize on those quickly.
(My mentioned non-concern on the trade's drawdown is because of ICT's Power of 3. Manipulation -> Accumulation -> Distribution.
In the context of a bearish trading day:
Manipulation: Price goes above the NY Midnight Open
Accumulation: Price consolidates and/or takes liquidity above the Open
Distribution: Often called "the real move". Price would enter a downtrend afterwards if Smart Money wants to push it down today.)
My HTF perspectives:
1D
1W
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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.