The frontrunning market book new weekly lows whilst Nasdaq and S&P meander around the 80-90% price range of the previous weeks range.
Going into next week, Dow Jones is the market to lookout for.
Expectation is bearish down to the local PD array @ $43,409 - $43,024
Going into next week, Dow Jones is the market to lookout for.
Expectation is bearish down to the local PD array @ $43,409 - $43,024
Trade closed: target reached
Similar to ES, an FVG in the form of a SIBI printed last week Friday and I wanted to see price gravitate up into this week.The SIBI printed @ $44,040 - $43,830 and throughout the week, there’s been numerous attempts to breach this area.
Today, we have witnessed the C.E of the FVG @ $43,932 met with sharp rejection indicating that there’s a strong chance of continuation to the downside, targeting the weekly bullish order block and possibly the daily bullish OB @ $42,821.
Overall bias for the week was bearish and I am happy to say that the initial higher time frame PD array has been met. Successful delivery this week and I am willing to sit on my hands for the remainder of the week.
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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.