12/1/23 NAS Daily Outlook
#NAS #DailyOutlook
We created a -CHOCH after taking out yesterday's PDL and several others. We moved so late in the afternoon so there was no buy up at the close. The BSL at the NY Close is the first draw and the 1H+FVG will need resolve first.
10:00am
USD
ISM Manufacturing PMI
11:00am
USD
Fed Chair Powell Speaks
2:00pm
USD
Fed Chair Powell Speaks
We have #PMI and Powell speaking as our biggest movers tomorrow and given that there is news in the morning and in the afternoon there may be stalled prices throughout the day. We may all see two swings as well so the biggest thing will be to trade with risk in mind.
#BullishCase: The bullish case will be how we manage this fresh 1H+FVG and the fresh 1H+OB. With the news tomorrow I'll be patient with all trades and lower my risk on entries unless I see a A+ setup up
#BearishCase: The bearish case will be how we manage BSL, the 1H-FVG, WOP. We can look for a reaction at these areas for the continuation to the down side.
1H chart
4h chart
D chart:
#NAS #DailyOutlook
We created a -CHOCH after taking out yesterday's PDL and several others. We moved so late in the afternoon so there was no buy up at the close. The BSL at the NY Close is the first draw and the 1H+FVG will need resolve first.
10:00am
USD
ISM Manufacturing PMI
11:00am
USD
Fed Chair Powell Speaks
2:00pm
USD
Fed Chair Powell Speaks
We have #PMI and Powell speaking as our biggest movers tomorrow and given that there is news in the morning and in the afternoon there may be stalled prices throughout the day. We may all see two swings as well so the biggest thing will be to trade with risk in mind.
#BullishCase: The bullish case will be how we manage this fresh 1H+FVG and the fresh 1H+OB. With the news tomorrow I'll be patient with all trades and lower my risk on entries unless I see a A+ setup up
#BearishCase: The bearish case will be how we manage BSL, the 1H-FVG, WOP. We can look for a reaction at these areas for the continuation to the down side.
1H chart
4h chart
D chart:
