NAS100 - MY INTRADAY ANALYSIS (TARGET 16630)Here I'm trying to change things up with a smaller timeframe (15min) analysis because the daily is nice but how does one trade that? Well here you have it.
What is on the chart?
1) Yesterday's session low, aka sellside liquidity, that hasn't yet been taken out which gives us a juicy target for the day.
2) Yesterday's consolidation that gave the upper hand to bulls in the AM session but now it serves us for our bearish bias of the day.
3) Price wicking once more in the daily FVG and not taking out the high. Great news for bears.
4) Price retraced back into the reload zone (0.702 notably) and furthered its descent into bear territory.
5) Bearish 1 hour order block. Will be used partly for our entry coupled with the fibs.
6) London session lows that will also serve as a target. When there's an accumulation of targets it increases the probability of success when placing a trade aiming in that direction.
7) My ideal entry. To your own discretion, I can afford losing 1%, can you? (affording something isn't just monetary can also be psychological. Can you cope with losing your money once more because of the idea of a stranger on the internet?)
8) The outcome I'm looking for. If we're going for a bearish scenario this is what should (I want to) happen.
NOTE: Retail Sales data release 08:30 NY time. Could make it or break it.
Happy trading and have a nice day! ;)
