There are 2 options with pending news
Lvl 3 new downtrend
prepare for path of least resistance
NFP around the corner with a crazy extension on todays price action.
60% probability according to the BTMM model
Pre fed Peak Formation. just following the setup of 3's
Monday retest of the lows would coincide with a reversal for the u.s. fed rate decision
currently gold has put in a new 2022 low. seems like preparation for Fed rate decision next wk
monthly camarila L4 sits around he 1655 threshold
News narrative was inline with MM 3 count intent.
A retrace to 12300 and hold or continue to 11500. Remember Mon + Tues = weekly initial balance
Nasdaq looks overextended in line with market cycles and waves. I expect London to hold the high long enough for the NY open to possibly return us to Friday's open
Expecting Next wk starts the 3 count retrace
All hanging on U.S Sept rates
If L3 is suport expect pivot point and H3 as target areas along with last wk hi
The trend is your friend till they full send. still short bias. Tuesday Pa will provide a much clearer narrative
Ideally i would like to U/J retrace in tonorrows NY session befor releasing to the downside
DXY 110 - 115 possible with one last move to end Q3 before cooling off into '23
EURUSD new low?
XAU/USD new low?
30m sessions footprint analysis below
Fx news schedule for Sept may yeild considerable pa for X/U
Conclusion in chart
vix relatively high cci right under -100. looking for one more test of 1,69x.xx - 1,70x.xx or strsight bust through the L3 post Sept 23rd
There is an abundance of macro news coming for the U.S. and EU
Yearly cam pivot signals strong trend along with pivot point test and support. H3 breakout H4 target. Invalidates with loss of pivot range tc - bc
strictly playing off pivots. i wouldnt expect any major move until sept 5th
Does the story (narrative) fit price action