*SMT = SMART MONEY THEORY* WHERE INSTITUTIONS RIP RETAIL TRADERS TO SHREDS BECAUSE THEY DON'T THINK OUTSIDE THE BOX.
Please see related Idea for details. I posted on earlier 0.98045but after watching it closely I only believe it will get as high as enclosing a 15 min Fair Value Gap, then it wil drop aiming for the liquidity uner neath last friday's lows. which is also 1 standard deviation below the Asian Range during the Asian Session.
I'M GOING 2% OF ACCOUNT -USING ALL 50 OF MY LEVERAGE entry - 0.98045 S/L - 0.98540 TP 0.97080
IF YOU FIB FROM THAT LAST 15 MIN CANDLE UP BEFORE THE LARGE DROP, YOU'LL SEE IT WILL RETURN ABOUT 80% OF THE RETRACEMENT. THAT'S ABOUT NORMAL FOR RETRACEMENTS.
I had two positions open yesterday and closed one. Regretting it now. Because what I thought would happen yesterday is happening now.
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Additionally, Expect the Asian Range (or half) to give you the length of the high to the low. Sometimes for a sesion sometimes for a day. Yesterday it was half the range x 3 for the day, Currently it's the full range o0f yesterdays x 4 for the session.
The market has followed you with such accuracy. thank you sir
BodiesXWix
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@kuldhir12, And it's continuing with my idea, As I'm glad I held onto on of my positions. It should get to the 2nd standard deviation marked on the chart. I was taught and I teach my private students the same, from high to low after midnigh new york time, Expect that distance to be rwlative to the asian range or half the asian range. and it's usually un multiples. Last nights was half the range times 3. Currently it's the full range x 4