Expecting for news to move price lower into the New Week Opening
My bias going into Thursday's trading is bearish. I do still believe price has unfinished business inside that New Week Opening Gap. We also have the monthly wick high resting just shy below as well. Currently inside a daily Fair Value Gap and I have the quadrant levels of that Gap as well drawn out with the green line representing the Consequent Encroachment. Will see if price is holding to my bias and will look for short entries.
Note
On the 15 minute chart price came up and swept liquidity during Wednesday AM session before dropping aggressively lower. Price reversed back into a premium during the PM session and still currently is. I want to see if price will hold lower coming into NY open.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.