HTF Directional Bias for MNQ
Updated
https://www.tradingview.com/x/MDQfuWl3/
I have a Bearish Bias in play before the 07:00 Pre Session aiming to reach for the [PDL] Fri 03 Jan 2025 at 21,144.25 and price could come as low as the 20,934.00 level which has the clean triple bottom SSL.
The reason why I am Bearish is because price has made a recent rally into the D SIBI and found rejection at the 50% CE level on Mon 06 Jan 2025. Then on Tue 07 Jan 2025 price left that D SIBI to trade lower through the Volume Imbalance and into the discount wick of the candle from Thu 02 Jan 2025.
Since it is a very heavy news release I do expect it to make a nice move lower since there is a bunch of SSL resting below the PDL's and price could reach as low as the discount D BISI 50% CE level at 20,871.25
I have a Bearish Bias in play before the 07:00 Pre Session aiming to reach for the [PDL] Fri 03 Jan 2025 at 21,144.25 and price could come as low as the 20,934.00 level which has the clean triple bottom SSL.
The reason why I am Bearish is because price has made a recent rally into the D SIBI and found rejection at the 50% CE level on Mon 06 Jan 2025. Then on Tue 07 Jan 2025 price left that D SIBI to trade lower through the Volume Imbalance and into the discount wick of the candle from Thu 02 Jan 2025.
Since it is a very heavy news release I do expect it to make a nice move lower since there is a bunch of SSL resting below the PDL's and price could reach as low as the discount D BISI 50% CE level at 20,871.25
Trade closed: target reached
Absolutely great delivery as price went lower but fell just a little short of my PDL target at 21,144.25 The directional bias for this day was spot on great work!
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