NQ Tuesday Buys Review
Good Afternoon everyone !
Today we practiced patience and reading price action.
I started looking at the markets at around 8:30 NY Local time (7:30 Houston time).
Read where we have been consolidating for London between 4pm yesterday and 5am today and its almost as if price was waiting till 8:30 NY local time to start making a move, at this time I have no intention of entering a trade.
At 8:30 price started to make its way down to Sell Side Liquidity and created aMarket Structure Shift or MSS
Waited until 9:30 am open and during that time price was floating at this weeks NWOG, note how previously I mentioned it can act as a magnet and attract price and it did so here today.
My trade hour is 10-11 am and at 9:50 price had taken the SSL from Friday at 1:30pm, at this point I'm looking to see if price will continue down or want to target the next most recent pool of liquidity which was the sells stops above.
A small BISI was formed hinting me that price may want to reverse to the upside and waited for an entry, I opened my position at the wick marked ENTRY with my stop loss under the low formed that took out Fridays SSL.
My target was the first high formed at 8:01 am, why? because it was the most obvious low hanging fruit target though it did purge the highs before that.
I did enter a second position when a new BISI was formed and retraced for an entry marked 2nd position
Target Reached
15 Min TF looking at Sell Side Liquidity being purged, and easily see Buys Side Liquidity as a target in form of Stops.
1 Min entry
Today we practiced patience and reading price action.
I started looking at the markets at around 8:30 NY Local time (7:30 Houston time).
Read where we have been consolidating for London between 4pm yesterday and 5am today and its almost as if price was waiting till 8:30 NY local time to start making a move, at this time I have no intention of entering a trade.
At 8:30 price started to make its way down to Sell Side Liquidity and created a
Waited until 9:30 am open and during that time price was floating at this weeks NWOG, note how previously I mentioned it can act as a magnet and attract price and it did so here today.
My trade hour is 10-11 am and at 9:50 price had taken the SSL from Friday at 1:30pm, at this point I'm looking to see if price will continue down or want to target the next most recent pool of liquidity which was the sells stops above.
A small BISI was formed hinting me that price may want to reverse to the upside and waited for an entry, I opened my position at the wick marked ENTRY with my stop loss under the low formed that took out Fridays SSL.
My target was the first high formed at 8:01 am, why? because it was the most obvious low hanging fruit target though it did purge the highs before that.
I did enter a second position when a new BISI was formed and retraced for an entry marked 2nd position
Target Reached
15 Min TF looking at Sell Side Liquidity being purged, and easily see Buys Side Liquidity as a target in form of Stops.
1 Min entry
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