Nasdaq Narrative
Went down today and swept the Weekly Objective, continued lower and hit a Daily Objective on Nasdaq.
I'm still rooting for shorts on the HTF, Reasoning: Bearish SMT Divergence between NQ & ES as I was hoping for Yesterday, Lack of Sell Side Liquidity sweep on ES & ES has not hit its Weekly BISI, no SMT Divergence at the lows yet.
DXY remains HTF Bullish although it's been lethargic lately.
So overall I remain HTF Bearish until a Bullish Market Structure shift occurs w/Displacement, Bullish SMT Divergence at the lows, Liquidity sweep on both ES & NQ, HTF PDA(ES Weekly BISI Hit) OR it consolidates here and I get more information and a new narrative on where price is willing to go.
Below is two scenarios I expect to pan out tomorrow, I want to see price retrace into a HTF Inefficiency, this can happen at a lower price on a LTF like the 1H Opposed to the 4H Chart, all I'm trying to look for is some HTF PDA to react off of to go from IRL -> ERL for a continuation lower.
Second one is if price decides it doesn't want to move from here for a couple days, in which I would looks for confluences to go long into premium/overall reversal back higher into a Daily Inefficiency/New ATHs, etc.
Summary: HTF Still Bearish for now until I see otherwise.
I'm still rooting for shorts on the HTF, Reasoning: Bearish SMT Divergence between NQ & ES as I was hoping for Yesterday, Lack of Sell Side Liquidity sweep on ES & ES has not hit its Weekly BISI, no SMT Divergence at the lows yet.
DXY remains HTF Bullish although it's been lethargic lately.
So overall I remain HTF Bearish until a Bullish Market Structure shift occurs w/Displacement, Bullish SMT Divergence at the lows, Liquidity sweep on both ES & NQ, HTF PDA(ES Weekly BISI Hit) OR it consolidates here and I get more information and a new narrative on where price is willing to go.
Below is two scenarios I expect to pan out tomorrow, I want to see price retrace into a HTF Inefficiency, this can happen at a lower price on a LTF like the 1H Opposed to the 4H Chart, all I'm trying to look for is some HTF PDA to react off of to go from IRL -> ERL for a continuation lower.
Second one is if price decides it doesn't want to move from here for a couple days, in which I would looks for confluences to go long into premium/overall reversal back higher into a Daily Inefficiency/New ATHs, etc.
Summary: HTF Still Bearish for now until I see otherwise.
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