This is the previous idea, just a zoomed in upkeep of the developments. The M15 low shift has been validated but we still have no valid high so I can't draw the Kram Fib over it, yet. Lots of data releases over the coming days so I don't think we will have a problem mitigating the M15 extreme low unmitigated order flow and heading back up to the H4 Supply. As I suspected, the daily inducement was taken today so we have a new internal daily low. Or will it end up being the new external, it won't be long before we know! This also confirmed a daily supply zone that almost sits right where the H4 one is, I have removed some drawings for brevity. I personally think we should mitigate that extreme daily demand zone at 7500 but the market will want to bleed the eager bulls dry which could be why we have seen such a strong push today. There's nothing like a good move to trigger FOMO!
For me, the plan is the same. I think we will mitigate that H4 supply, we are unlikely to dive straight into the supply as we are, price will need to pull back and engineer some internal range liquidity from the M15 scope with a view to break that H4 supply. I have marked on the chart my POIs. Ultimately I think the H4 will hold and provide us some nice sells, with confirmations, of course to the daily extreme at around 7500 (higher of the two anticipated lows).
So much big data coming out this week, though so be prepared for some BS. Next week will be better for making real money
I'll see you in the updates, below throughout the sessions. Wishing you all a great trading day
For me, the plan is the same. I think we will mitigate that H4 supply, we are unlikely to dive straight into the supply as we are, price will need to pull back and engineer some internal range liquidity from the M15 scope with a view to break that H4 supply. I have marked on the chart my POIs. Ultimately I think the H4 will hold and provide us some nice sells, with confirmations, of course to the daily extreme at around 7500 (higher of the two anticipated lows).
So much big data coming out this week, though so be prepared for some BS. Next week will be better for making real money
I'll see you in the updates, below throughout the sessions. Wishing you all a great trading day
Note
We have confirmed the M15 high so the plan is the same although price is muddy so I am using M5 zones. The 'D' zone has shifted, awaiting mitigation of one of the liquidity pools to push us into the H4 supply. The sells are my main focus for today, counter-trend buys in the current market conditions are higher risk Note
The H4 supply I was banking on has failed with a H4 candle closing below. External liquidity has been swept, I got into a position from the gym, this afternoon. Note
This level will need some push to break Note
Close 50%Note
Closed at 8pm BST for an total of 2R. That felt like scraping profit out of the market's fingernails! While that was a valid setup from my playbook, maybe not so much in the context of a H4 structure break. I was confident that H4 supply would hold and while it sort of did, it has taken a right beating and demand will flatten it at the next meeting.
This month, while it has been bumpy has been a good month. Lots of R's have escaped through conservative targets and being caught offside on that first H4 sweep (I closed early thinking I was counter trend and I was pro trend, it just hadn't told me at that point! After this week the whole attitude should improve and further to that, we have a definitive new trend that many high time frames agree on.
I'll do a full top down analysis and confirm where we are and likely HTF targets before the new week in preparation for this new leg. So watch this space.
Vagrant market bully.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
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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.
Vagrant market bully.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
Related publications
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.