Nwog
11/28/23 SPX Daily Outlook11/28/23 SPX Daily Outlook
#SPX #DailyOutlook:
We made the low of the day during the over night sessions. There was a NWOG that was left on Sunday and this is where price has been reacting during the NY open session. The PM sessions fell down into the 4H+FVG(H), TDO and D+OB(H) then pushed into the NWOG. There was also a bounce in the London/ Pre Market Session off of the D+OB(H) again. On the open the price rejected the PG but then held the D+OB(H) again and ranging through the NY open until the close.
This will be our biggest news release, however, we do have a few #FOMC speakers but not Powell. We also have Richmond Manufacturing Index numbers #RMI and the S&P/CS Composite-20 HPI y/y at 9:00am.
10:00am
USD
CB #ConsumerConfidence
101.0 102.6
#BullishCase: The bullish case will be our response to the NWOG (New Week Open Gap) which we have reacted off of and sold off from but, at the current price we are sitting near the low again. We could use the PG to push through and buy from and the aim will be the PDH/PWHs. Look for an impulse through and a return to it.
#BearishCase: The PDL from Monday is our POI for the sell setup. We need to watch the LTFs for an impulse through the low and on the LTFs once we trade through the low wait for a fresh -POI for a LTF setup.
1H chart
4H chart
D Chart
ES | Oct. 23, 2023 - Weekly FVG, NWOG, and BreakerUsing the 15m bellwether chart for ES, we observe price opening higher creating a nice new week opening gap (NWOG).
At the 9:30am open, a Judas swing takes out London sell-side liquidity before rallying to take out the 8:00am swing high, closing above the high forming a bullish breaker.
Price continues to climb into the NWOG and retraces back down into the breaker and into the fair value gap (FVG) providing a clean entry for the ICT 10 - 11am Silver Bullet.
Price continues to run higher, trading above the NWOG and showing support as it ultimately trades into the consequent encroachment (CE) of the weekly FVG.
Throughout the NY PM session, price fell back through the NWOG, touching the breaker one last time before closing and consolidating at the NWOG's CE.
GBPUSD H1 analysisOn Friday I said price would deliver to the 22/05/22 nwog after an H1 candle close above 1.24260 before friday close but was too ambitious, instead price closed today at C.E (consequent encroachment) of the nwog. 1.25465 buyside is the first target for this week, so long as it doesnt trade below 1.24332 (23/04/23 NWOG low). Beautiful to see the algorithm deliver with accuracy like this :)
BITCOIN ARRAYS - ORDER BLOCKS & NEW WEEK OPENING GAPS (NWOG) Daily Time Frame Breaker Bars outlined in dashed red.
New Week Opening Gaps from May and June 2022
Surpassing these two arrays will strengthen or renew Bitcoin's outlook.
However this movement is a re-tracement following last years sell off.
Bitcoin being touted as a safe-haven for inflation didnt fair well during last years market purge where flight to safety remained in US Treasuries
2nd Week of March US500 (CFD) Technical AnalysisI will Be Looking For entries according to mentioned situation. Mostly looking for high probability Scalps
Event Horizon as per ICT Quote by @I_Am_The_ICT via Twitter
“An ICT Event Horizon PD Array -
Halfway between a NWOG and the closest NWOG is my Event Horizon. It will not allow price to escape the draw to the NWOG & it will create a surge towards the NWOG it got too "close" to but yet reached.”
Noted New Week Opening Gaps (NWOG) using cryptonnnite’s script (Keyword search “weekly” in indicators). This is very useful in annotating the High Low and CE of previous New Week Opening Gaps.
Measured the distance using TVs Fib tool and including quad levels