We've overshot our Monthly 3-Period ATR. FOMC and CPI have passed.
What else can the market give wrt to volatility.
Puts are at a premium.
However we have a FVG and Bullish OB below.
Two scenarios for the rest of June:
1. We quickly run through that FVG and tap the top of the Bullish OB at 3500 and quickly retrace back up 3650 to close the month.
2. We consolidate and where we currently are retrace back up and close the month between 3800 & 3850
What else can the market give wrt to volatility.
Puts are at a premium.
However we have a FVG and Bullish OB below.
Two scenarios for the rest of June:
1. We quickly run through that FVG and tap the top of the Bullish OB at 3500 and quickly retrace back up 3650 to close the month.
2. We consolidate and where we currently are retrace back up and close the month between 3800 & 3850
Comment:
Take note of the news headlines over the weekend going into next week and the weekend after that which can push us to either of these areas where liquidity resides.