First trades next week
If you pull a fib from the previous weeks low to yesterday’s high the .79 is sitting dead on the top of the big imbalance created during the drop after the NFP news release.
That area is sitting well within the premium pricing zone and when price climbs to that level, which I think it will do on Monday quite quickly in order to fill that liquidity void I will be looking to take a short from around there.
I will be mindful that price could continue running away as it did on Friday though and will keep a stop loss fairly tight and will only be entering short if I see a solid reaction with a large bearish displacement candle once the void has been filled and entering on a retracement to a freshly created FVG.
Once in that short I will not be aiming to hold that expecting a massive drop and will aim to close as soon as it hits the nearest PD array whichever we see be formed from the swing upwards. As we are in a HTF Bullish trend and that will be my bias until I see something that alters that on the chart.
I’m confident that price will climb and fill that gap quickly next week as I’ve said so I will be longing a pullback to the OB highlighted on my chart should I get a chance to do so and riding price up to fill Fridays void to the .79
That area is sitting well within the premium pricing zone and when price climbs to that level, which I think it will do on Monday quite quickly in order to fill that liquidity void I will be looking to take a short from around there.
I will be mindful that price could continue running away as it did on Friday though and will keep a stop loss fairly tight and will only be entering short if I see a solid reaction with a large bearish displacement candle once the void has been filled and entering on a retracement to a freshly created FVG.
Once in that short I will not be aiming to hold that expecting a massive drop and will aim to close as soon as it hits the nearest PD array whichever we see be formed from the swing upwards. As we are in a HTF Bullish trend and that will be my bias until I see something that alters that on the chart.
I’m confident that price will climb and fill that gap quickly next week as I’ve said so I will be longing a pullback to the OB highlighted on my chart should I get a chance to do so and riding price up to fill Fridays void to the .79
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