15M Narrative
With News data coming out, there is allowance for choppy price action, Ill see this as accumulation, I want to see lows that need to be swept.
Then come news data at 9:45, I would want to see an initial drop to take out those lows. Why?
Everyone that has been long so far trailed their stop losses higher, those lows that they trail their stop losses higher to will be one of the lows that is in the Accumulation Phase, and will be swept (Fake Move Down). This will be the manipulation move, which then I would expect to see expansion higher with 9:45 AM Flash Manufacturing PMI being the catalyst that sends price higher. Targeting Monday's high first, then if price continues its expansion, Friday will be the next objective as well as the Daily SIBI.
Everyone is Bearish they've seen that drop from the higher time frames, they think the next big one is coming, they have their buy stops above the highs from Monday and Friday, un-swept, they feel safe. That is exactly where price is going.
Then come news data at 9:45, I would want to see an initial drop to take out those lows. Why?
Everyone that has been long so far trailed their stop losses higher, those lows that they trail their stop losses higher to will be one of the lows that is in the Accumulation Phase, and will be swept (Fake Move Down). This will be the manipulation move, which then I would expect to see expansion higher with 9:45 AM Flash Manufacturing PMI being the catalyst that sends price higher. Targeting Monday's high first, then if price continues its expansion, Friday will be the next objective as well as the Daily SIBI.
Everyone is Bearish they've seen that drop from the higher time frames, they think the next big one is coming, they have their buy stops above the highs from Monday and Friday, un-swept, they feel safe. That is exactly where price is going.
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