MNQ - Watch yesterday's London low carefully, we should rip high
You can see this play out much better on the 1 min chart:
The long and short story is that we have liquidity sitting on top of us and the bottom of current London session.
What they'll likely do is cover the entire daily session with liquidity from where yesterday's high's going to lows left off. Take price down to to "too much of an obvious liquidity point" (equal lows). I would expect that they induce everyone to long there, sharply take everyone out, but not go into the previous London low yet. They will force people to chase the low, providing liquidity on the backside, into yesterday's London low (which is daily low also).
Since it is a Tuesday, you get your market highs/lows on Tuesday apx 70% of the time statistically.... So I would expect the market to RIP super high from there and take out all of the sandwiched liquidity that will likely be engineered from what was left over from yesterday's AM/PM sessions, and the liquidity that will be engineered today.
Look for a very strong long opportunity at the bottom of Yesterday's London session low. Should be able to take it to the high today.
The long and short story is that we have liquidity sitting on top of us and the bottom of current London session.
What they'll likely do is cover the entire daily session with liquidity from where yesterday's high's going to lows left off. Take price down to to "too much of an obvious liquidity point" (equal lows). I would expect that they induce everyone to long there, sharply take everyone out, but not go into the previous London low yet. They will force people to chase the low, providing liquidity on the backside, into yesterday's London low (which is daily low also).
Since it is a Tuesday, you get your market highs/lows on Tuesday apx 70% of the time statistically.... So I would expect the market to RIP super high from there and take out all of the sandwiched liquidity that will likely be engineered from what was left over from yesterday's AM/PM sessions, and the liquidity that will be engineered today.
Look for a very strong long opportunity at the bottom of Yesterday's London session low. Should be able to take it to the high today.
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.