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US30 BUY IDEA
Hello everyone,
Today I'm really gonna go in depth on my explanation for my BIAS for this trade set up I have an eye on and I am waiting for. The main Idea being, Last week's High was created on Tuesday around level 35500 where I have the left hand side chart showing the Right shoulder reaching up to that light blue box -- Tuesday's Old High (March 29th).
We can also see that Thursday we create sellside liquidity (W), that gets taken by 150+ pips on Friday (during NY session) before the rally that takes buyside liquidity and creates a BOS.
Once that burst happens and takes Buyside liquidity -- we are left with a FVG which is basically just an imbalance in the market (we can see it is a massively large blue candle) meaning it resided only with bullish buyers -- no sells took place during that period in time. So we can then come to expect price to come down in order to fill in that area on imbalance.
I then took my fib to see if it was hitting any ideal level of discount -- which it is the 0.705 -- could come lower into the 0.786 which im allowing my SL to give me room for that. I am also using that consolidation zone that was created during wed-thurs session which was raided friday during new york to serve as a support for my buy bias. Expecting that FVG + Supoort level and my Buy idea that It wants to go for Tuesday's Highs.
I will update my bias as it goes --
Today I'm really gonna go in depth on my explanation for my BIAS for this trade set up I have an eye on and I am waiting for. The main Idea being, Last week's High was created on Tuesday around level 35500 where I have the left hand side chart showing the Right shoulder reaching up to that light blue box -- Tuesday's Old High (March 29th).
We can also see that Thursday we create sellside liquidity (W), that gets taken by 150+ pips on Friday (during NY session) before the rally that takes buyside liquidity and creates a BOS.
Once that burst happens and takes Buyside liquidity -- we are left with a FVG which is basically just an imbalance in the market (we can see it is a massively large blue candle) meaning it resided only with bullish buyers -- no sells took place during that period in time. So we can then come to expect price to come down in order to fill in that area on imbalance.
I then took my fib to see if it was hitting any ideal level of discount -- which it is the 0.705 -- could come lower into the 0.786 which im allowing my SL to give me room for that. I am also using that consolidation zone that was created during wed-thurs session which was raided friday during new york to serve as a support for my buy bias. Expecting that FVG + Supoort level and my Buy idea that It wants to go for Tuesday's Highs.
I will update my bias as it goes --
交易結束：達到停損點
Stop was reached -- we retraced back up to Monday's Low and held support there. We also closed below the 4H FVG so that is also pretty strong sell signals.
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