OCT NFP trade
NFP Friday was a day to think about protecting capital instead of gambling.
As always we see what has been printed from London session and previous day.
Oct 5th morning was a massive sell and then price printed up during the afternoon going into London, then consolidated and was taught that price was consolidating to wait for NFP news driver to direct price.
If you notice the accumulation of positions from oct pm session and London was immediately taken out when NFP news hit the market at 8:30 am NY local time in one single move leaving behind a SIBI or (Sell Side Imbalance Buy Side inefficiency)[/I]
remember when a SIBI or BISI is created, price will have to revisit that void and efficiently fill the gaps and positions sometimes in full or by quarters.
also notice how price melted to fill the BISI from OCT 4th as the OBVIOUS on the 15 min TF.
once price stopped and started showing signs of MSS or Market structure shift, I waited until my trading hour of 10-11 am NY local time for some type of entry to continue up to fill the SIBI created by news.
when price was within my hours of 10-11 I saw a MSS around 10:13 AM that created a BISI and a potential entry to target BSL
Target Hit TP and continued to rally and take out my Weekly targets BSL and also tap into the SIBI from September 20th I had noted before.
ENTRY
TARGET 1 HR SIBI
Monday is a holiday I will probably just watch price.
As always we see what has been printed from London session and previous day.
Oct 5th morning was a massive sell and then price printed up during the afternoon going into London, then consolidated and was taught that price was consolidating to wait for NFP news driver to direct price.
If you notice the accumulation of positions from oct pm session and London was immediately taken out when NFP news hit the market at 8:30 am NY local time in one single move leaving behind a SIBI or (Sell Side Imbalance Buy Side inefficiency)[/I]
remember when a SIBI or BISI is created, price will have to revisit that void and efficiently fill the gaps and positions sometimes in full or by quarters.
also notice how price melted to fill the BISI from OCT 4th as the OBVIOUS on the 15 min TF.
once price stopped and started showing signs of MSS or Market structure shift, I waited until my trading hour of 10-11 am NY local time for some type of entry to continue up to fill the SIBI created by news.
when price was within my hours of 10-11 I saw a MSS around 10:13 AM that created a BISI and a potential entry to target BSL
Target Hit TP and continued to rally and take out my Weekly targets BSL and also tap into the SIBI from September 20th I had noted before.
ENTRY
TARGET 1 HR SIBI
Monday is a holiday I will probably just watch price.
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.