Smcanlaysis
NQ Premarket 15 min Targets and markups - SMC SMC premarket mark up at 15/1 levels. Note the DVI in aqua. Currently my eyes are on the upper BSL resting from REH at overnight highs. Monday is fickle - we have potential monday hangover. Friday did not reclaim any of the bull move - so the 25% drop is in mind. Personally not interested in this today. Main target above is still in sights - that obvious 925 area on the new DEC contract.
NWOG and NDOGs are out for me with new contract so will use HLOC of days looking back 3-5 for now.
Lets see how Monday goes.. Sl bias UP but only gonna hop in trade on this Monday if it is a great setup..
Happy Trading -- Doc
NQ Sep 16 Targets, gaps and SMC setups premarketThe new week is about to open.. Primary target for the week is that CLEAN upper zone at 925.
on the new Dec contract.
We have Short term interest above but we also never reclaimed any of the Last week bull move.. so we have a MONDAY HANGOVER possible situation with the 25% mark retrace of the bull week marked as a line in the sand below.
Monday and no news.. unlikely to move that much, but worth marking it out.
Best looking target to me right now is the OVERNIGHT HIGHS REH, should a good set up arise.
WKLY FVG is just below and attractive to move there during the premarket.
Happy Trading
- Doc
Wave logic analysis of multi-timeframe DXYDay is uptrend -> current is correction
4H is dowtrend -> current is impulse
5M/15M is dowtrend -> current is impulse
Wave 5M/15M reversal increases when the reversal peak is broken. Then the 4H wave is a corrective wave, the price increases back to the Swing High level of the 4H time frame.
If the high of the 4H timeframe is broken, the price will rise back to the swing high of the daily timeframe.
DXY BULLISH The DXY bullish but currently moving bearish as a 4H break of structure occurred to the upside meaning a corrective pullback needs to occur to mitigate a demand zones below. This means for the time being on lower time frames we will be moving bearish, as a result currencies correlated to the DXY will be moving bullish as currencies are negatively correlated to the DXY index.