Last week NQ ran out its external range high.
Tuesday ran out Monday (check 4h) high and low and closed bearish.
On the 4h and 1h, we have a cisd to the downside. Paired with ES smt at the highs (check 1h). Measure the manipulation leg on the 1h for STD extensions and targets align with daily fvg. This is giving me evidence of a possible short term retracement delivery cycle in price. We could see Wednesday offer a continuation lower.
What I would need to see to confirm shorts:
If Asia and London initially trade higher above new day and midnight opening price, then the intraday framework is setting up for a classic sell day. This is ideal for shorts. Either NY Continuation or NY Reversal daily profile is what I'm hunting. I need to see a 15m cisd. That would confirm the daily profile.
If Asia and London trade lower first, then conditions are not ideal for intraday framework I'm looking for and need to be cautious of shorts.
If Asia and London consolidate, then I will wait for the external range to be swept during NY session. A 15m cisd will confirm direction after sweep on liquidity and I will target opposing liquidity.
If 4h fvg is closed though, that confirms ifvg and shorts will no longer be consider.
Tuesday ran out Monday (check 4h) high and low and closed bearish.
On the 4h and 1h, we have a cisd to the downside. Paired with ES smt at the highs (check 1h). Measure the manipulation leg on the 1h for STD extensions and targets align with daily fvg. This is giving me evidence of a possible short term retracement delivery cycle in price. We could see Wednesday offer a continuation lower.
What I would need to see to confirm shorts:
If Asia and London initially trade higher above new day and midnight opening price, then the intraday framework is setting up for a classic sell day. This is ideal for shorts. Either NY Continuation or NY Reversal daily profile is what I'm hunting. I need to see a 15m cisd. That would confirm the daily profile.
If Asia and London trade lower first, then conditions are not ideal for intraday framework I'm looking for and need to be cautious of shorts.
If Asia and London consolidate, then I will wait for the external range to be swept during NY session. A 15m cisd will confirm direction after sweep on liquidity and I will target opposing liquidity.
If 4h fvg is closed though, that confirms ifvg and shorts will no longer be consider.
Trade active
Asia trades higher at open, London confirms cisd. Ideal for shorts. SMT at highs with ES. Manipulation STD extension targets and previous day low dol. Leaving a runner for friday low if other objectives hit. Want to see London expansion and NY session deliver to targetTrade closed manually
Shorts closed out. Partials taken, trailing stop tagged.Note
Shorts still Valid.
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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.