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Elliot Wave, Demand and Supply, SMC and ICT in agreementI will be using 3 strategies//concepts to analyze price here Demand and Supply Strategy Price is currently trapped within a demand and a supply region and both regions are currently bouncing Price about but one needs to break in order for Price to continue trending. I favor the demand zone to break because 1. We are currently in a downtrend 2. The rejections from the demand zone are weak compared to the rejections from the supply zone which were sharp and fast I would suggest selling from 1926- 1928 because Price would retest the Supply zone to pick up more orders before it shoots down towards the next demand zone at 1905-1907 Elliot Wave Strategy Price is currently running 5 waves down, and looking at the chart we have highlighted and completed wave i through to iv. Wave ii retraced 61.8% of wave i which means wave iv would retrace not more than 50% of wave iii which we saw last Friday when Price peaked at 1929.69 We can see a divergence in Price and MACD of wave ii and wave iv, which means a continuation of downtrend is inbound and according to Elliott wave, its the beginning of wave v down to 1907-1905 region which marks the 1.272 extension of wave 1 SMC and ICT From the 15mins chart, it can be seen that Price has done a CHoCH/MSS, and it left an area of FVG/Imbalance in a discount area while doing that. We expect Price to trade back into that FVG/Imbalance and mitigate the 5min OB before we see another massive move to the downside RIsk Management is advised I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍ if any of the concepts makes sense to you or not. Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
TVC:GOLD
by owlswift_fx
IPDA Ranges to Cast Future Price Movement for ES Familiarizing ourselves more on IPDA Ranges to help form daily bias and to work on high time frame analysis. The first idea we ever published was actually a very similar thought but now that we have a better understanding of how to use IPDA ranges we wanted to post what we hope to be a more accurate version of what is to occur in CME_MINI:ES1! price action. We are trading down off of a weekly order block that was traded into on July 18th; we have taken out the July 10th low of 4660.25 and we have failed to make a higher swing above 4683.50. It seems like the market has shifted to bearish conditions for the intermediate term. Using the look back and cast forward train of thinking, we have been trading higher for the 60 trading days prior to August 1st which is just 3 trading days after making our current intermediate high; meaning our cast forward should have plenty of sell side liquidity to draw to in order to clear out stops below our 20-40-60 day ranges. It just so happens that we have a +Breaker Block that contains a Fair Value Gap/Liquidity Void inside of it. This gives us a lot of confidence in our bearish outlook as the 60 day low is quite literally is the top of our Liquidity Void and also falls into a zone for Optimal Trade Entry (OTE). The only major bounce we should see is off of the March 13th Premium/Discount range as the Equilibrium for that range falls right in a Liquidity Void. The only thing that will push us through that with ease is some red folder news. Should be a piece of cake.. We are proud to put ourselves out there with ideas. It forces us to use logic and apply concepts and ideals that we have learned. Any questions or comments leave them below! CME_MINI:ES1! EIGHTCAP:SPX500 CBOE:SPX TVC:SPX BLACKBULL:SPX500 SKILLING:SPX500
CME_MINI:ES1!Short
by blackoakcapital