The Asian session formed a range, there was a manipulation expansion leg to the upside in the London session, I believe this is what Michael calls a Turtle Soup (Correct me if I am wrong). Then the AMD schematic formed which is Asian Range, London Manipulation, which also had the first distribution leg. I am looking for the second expansion in the New York...
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Last week, I was on a lookout for a continuation of shorts, running through intraday sellside liquidity @ $17,717 with $17,690.25 being the daily bullish order block.
What we have witnessed is perfection in the sense of accumulation, manipulation then distribution and i am expecting further downside for the week until the liquidity void from the 30-31st Jan 2024...
CME_MINI:MNQ1!
1. Price reached a major Price area. In Fact, there were 3 Logical Profit Objectives that were hit soon after market open which indicated to me that there was strong support at that area.
2. I entered the buy after price reversed off of that support level.
3. Took profits at one of the Logical Profit Objectives (Fibonacci Exapansion) after...
CME_MINI:MNQ1!
1. At market open, there was a big drop in price with a small retracement, so I used fibonacci expansion levels to determine where I would take profit at and that is where you see me take profits at when it hits that level.
2. We were in a downtrend on the 30Minute and 1Hour Timeframes.
Today, we will discuss how to apply inter-market analysis effectively. While there are numerous analysis methods available, I find comparing the index, an influential stock, and a smaller yet actively traded stock to be effective in projecting what is coming ahead.
Let's make some interesting observations in the tech market, focusing on the Nasdaq Index, the...
In comparison to CME_MINI:ES1! , CME_MINI:NQ1! was much more uniform with the delivery, especially when the gap formed on Monday going into Tuesday was filled on Friday whilst CME_MINI:ES1! Thursdays candle exceeded the gap.
I believe there is more pain to come from liquidating sell stops compared to buy stops as the overall sentiment is bullish with the...
CME_MINI:MNQ1!
1. 5 Minute chart was below 5x5 DMA.
2. Price was approaching COP levels (Fibonacci Expansion Levels)
3. The Orange level is a D-Level (Confluence Level) of a 38.2 & 61.8% Retracement.
- This happens in the direction of a trend. In this case, the Hourly uptrend had a level where the 38.2 & 61.8 both met at the same price which is an indication...
As CME_MINI:ES1! CME_MINI:NQ1! CBOT_MINI:YM1! tends to have tight correlation, it is logical to make the assumption that if my bias for CME_MINI:ES1! is short term bearish then it is only right to be short on CME_MINI:NQ1! also right?
Well, that's correct and we will have a look at CBOT_MINI:YM1! in my next post as an example of times where one goes...
Understanding the IB ..first hour of trading will give you an edge into price action for the day.
Especially LSE and US combined very powerful edge.
Stay Frosty!
