Massive spike out attempt on both buyside and sellside on the weekly timeframe. But in comparison to CME_MINI:ES1! and CME_MINI:NQ1!, CBOT_MINI:YM1! has been stagnant for the past two weeks.
Last week, I was expecting lower prices but the $38,100 manipulation that occurred was something that I thought would hold and we would see a candle body closure.
$38,000 is a region in price where I forecast CBOT_MINI:YM1! to trade to this week. My philosophy is simple...
Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.
This includes;
- Market Structure - Buyside/Sellside Liquidity - Order Blocks - Liquidity Voids - Fair Value Gaps - Optimal Trade Entry - Premium/Discount Array - SIBI/BISI - Many More!
The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.
Credits;
- Michael Joe HUDDLESTONE - Shawn Lee POWELL - Toray KORTAN
Comment
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CBOT_MINI:YM1! has officially made a new all-time high @ $39,343 with the majority of the move starting and continuing from Wednesday 21st Feb 24, US PM session around 15:00 into Friday 23rd close.
If CME_MINI:ES1! can maintain it's bullish stance with TVC:DXY continuing it's downtrend, there is a strong chance CBOT_MINI:YM1! will continue.
As they say... the trend is your friend. Until it's not