ES | Oct. 23, 2023 - Weekly FVG, NWOG, and Breaker
Using 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.
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.