Found this ridiculously clean setup for the NQ100.
We have a Balanced Price Range between the two gaps, take the smaller gap, and pull a fib from the top of the gap to the bottom, draw a line across the 0.5. This gives us the Consequent Encroachment, resting at exactly 15140.
Now to add into this level we have previous perfect Equal Lows which are near identical to the BPR CE. Looks like an ALGORITHM. Super perfect if it plays out.
If you look above the current BPR, we had another BPR today. It was insanely clean. To the exact 0.5 fib level. BPRs weigh heavier than the FVG which is evident by how the FVGs get completely knifed through and the BPR is respected.
In essence High Probability Short for me. Price usually does not break the CE(midpoint) of the BPR, so my first TP would be there then the rest can ride if it does fill the entire FVG.
We have a Balanced Price Range between the two gaps, take the smaller gap, and pull a fib from the top of the gap to the bottom, draw a line across the 0.5. This gives us the Consequent Encroachment, resting at exactly 15140.
Now to add into this level we have previous perfect Equal Lows which are near identical to the BPR CE. Looks like an ALGORITHM. Super perfect if it plays out.
If you look above the current BPR, we had another BPR today. It was insanely clean. To the exact 0.5 fib level. BPRs weigh heavier than the FVG which is evident by how the FVGs get completely knifed through and the BPR is respected.
In essence High Probability Short for me. Price usually does not break the CE(midpoint) of the BPR, so my first TP would be there then the rest can ride if it does fill the entire FVG.
Trade closed: stop reached:
Stopped out because we reached for buyside above , but it did come back and hit near that exact price level. If the short was entered off the liquidity up top it would have been an incredible trade.