This is a typical pattern in which the market reaches an earlier high but immediately rejects the level. In my perspective this drop is more than confirmed at this point so the target I choose, a gap, seems to me a high probability target. How would I trade it? In the same way this structure was formed but I would expect a fractal to form in a lower time frame; I...
I think this thing is going to take out some people with cheap stops in the market before dropping harder, so as a day trader - short term trader we can capitalize on this agenda.
no single clue
no idea
anything
up
or
down
that's it
maybe up
but how much?
a few tick?
new high?
but we have liquidity down below
so whattttt
$PIVOTS $$$$$$$$$$$$$$$
1) liquidity is hunted on the selling side.
2) there is a failed breakout with reversal.
3) the price rises, but it is not enough to hunt liquidity on the buying side before having a pullback.
4) the pullback goes directly to the median linem that together with FVG (1 min chart) and AVWAP gives an excellent entry.
-Keep in mind: median lines and AVWAP work...
