#Nasdaq Futures - 2 Paths depending on Unemployment Report *SMC*
SMC = Smart Money Concepts - Find related Posts that provide explaination on how SMC highlights price action and how to predict what could happen in the market
This is in preparation for Thursday June 6 market.
As the Asian Market continues overnight. Its seems that there will be a slight decline. This decline will fall into a 4 hour Fair Value Gap (FVG) Designated by the large green box between the prices of 19028.25 - 19072.00. As it approaches the median of that 4HR FVG, there is also a 1 hour FVG Between 19043.75 - 19050.75. Smart money concepts sugggest that these fair value gaps will get filled with price action whichc is why I am suggesting the small decline during the asian market.
When the London market opens, we should see the price enter thes price zones mentioned above and possibly make a positive direction for a slowing until the Unemploymnt Claims Report is released. Considering the Unemployment Report is lagging, we may not see a large run but it should run the direction reflective of the report. However, the ADP report came out with a lot of losses and we saw major gains. So if the unemplyment claims are lagging, we could see another rise and a rise above the next liquidity point at 19108 from around 19050-19044.
If we were t o see a decline, I believe we would still see a run up from the area mention ed above as a "fake out" to make retail traders chase the price up and then it will hit the price of 19072 (top of the 4 hour FVG) and then start falling to fill in the rest of the FVG (19028) AND COULD CONTINUE LOWER... into the next fair value gap found in the 15 minute chart at 18950.25.
The only issue with it dropping is that it will encounter a Breaker along the way (Designated by the Blue Box - 19007.00 - 19024.50) Price may struggle through breaking below the low. If anything it may hit the median and start to stagnate before starting to move back up.
So in conclusion I've givent two road maps depensing on the data that comes out tomorrow
Personally, I have a feeling we'll see a bullish run with a laggin indicator with the Unemplyment claims hopfully breaking the new high.
Smart Money Ideas Previously Posted
https://www.tradingview.com/chart/GBPUSD/eemEUAEW-Retail-vs-Smart-Money-Truth-vs-Manipulation-tutorial-SMT/
https://www.tradingview.com/chart/GBPUSD/umiyXx8G-Learn-Smart-Money-TA-Let-All-Other-TA-Go-A-Case-by-BXW/
Let me know your thoughts, good luck and good trading
This is in preparation for Thursday June 6 market.
As the Asian Market continues overnight. Its seems that there will be a slight decline. This decline will fall into a 4 hour Fair Value Gap (FVG) Designated by the large green box between the prices of 19028.25 - 19072.00. As it approaches the median of that 4HR FVG, there is also a 1 hour FVG Between 19043.75 - 19050.75. Smart money concepts sugggest that these fair value gaps will get filled with price action whichc is why I am suggesting the small decline during the asian market.
When the London market opens, we should see the price enter thes price zones mentioned above and possibly make a positive direction for a slowing until the Unemploymnt Claims Report is released. Considering the Unemployment Report is lagging, we may not see a large run but it should run the direction reflective of the report. However, the ADP report came out with a lot of losses and we saw major gains. So if the unemplyment claims are lagging, we could see another rise and a rise above the next liquidity point at 19108 from around 19050-19044.
If we were t o see a decline, I believe we would still see a run up from the area mention ed above as a "fake out" to make retail traders chase the price up and then it will hit the price of 19072 (top of the 4 hour FVG) and then start falling to fill in the rest of the FVG (19028) AND COULD CONTINUE LOWER... into the next fair value gap found in the 15 minute chart at 18950.25.
The only issue with it dropping is that it will encounter a Breaker along the way (Designated by the Blue Box - 19007.00 - 19024.50) Price may struggle through breaking below the low. If anything it may hit the median and start to stagnate before starting to move back up.
So in conclusion I've givent two road maps depensing on the data that comes out tomorrow
Personally, I have a feeling we'll see a bullish run with a laggin indicator with the Unemplyment claims hopfully breaking the new high.
Smart Money Ideas Previously Posted
https://www.tradingview.com/chart/GBPUSD/eemEUAEW-Retail-vs-Smart-Money-Truth-vs-Manipulation-tutorial-SMT/
https://www.tradingview.com/chart/GBPUSD/umiyXx8G-Learn-Smart-Money-TA-Let-All-Other-TA-Go-A-Case-by-BXW/
Let me know your thoughts, good luck and good trading
Trade closed: target reached
Well if you played between from buy point to buy point, you would've come out ahead. And given the circumstances that it didn't go where I thought it would prior to the open, thats exactly what I did. And currently up over 400. But if you stuck with the buy after it hit the long call I suggested, you'd be up much more than I am.Note
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
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.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
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.