Depending on how price reacts once it reacts to the Daily FVG it may fill and break to the downside. Keep in mind NQ has a seasonal bearish tendency in September.
Price around autumn is also delivered much more cleanly and efficiently .
Its a waiting game
Following the previous weeks bullish run , I am expecting price to fill in the FVG (imbalanced price action) left around 15200.00 before continuing on the upside to take the highs around 16000.00
Weekly bias is bullish but as is expected , price action will always seek liquidity before moving in its intended direction. Caution to early buyers!
We saw prices rally up the previous trading week after failing to create a lower low at a major support zone in it's bearish run. Price might be setting up for a break of its current downtrend. This might however be preceded by a bearish correction of last weeks bullish run down to the support zone for a third touch forming a triple bottom before reversing upward...
We saw prices rally up the previous trading week after failing to create a lower low at a major support zone in it's bearish run. Price might be setting up for a break of its current downtrend. This might however be preceded by a bearish correction of last weeks bullish run to respect the trend line upwards . Notably, this bearish correction we are to expect...
On the 1H TF price seems to be setting up for a textbook wyckoff pattern that will see price rise breaking the current downtrend heading on upwards. This is supported by the fact that price failed to make lower lows upon meeting a key support level.
GBPUSD seems to have formed a double bottom in its bearish downtrend. This might see price move upwards to break the current downtrend and continue on upwards to fill previous Imbalances left on its bearish run.
