Bearish on Index Futures.
- SMT at previous month's high.
- Inversion on daily timeframe.
- Monthly BISI as draw on Dow.
- ES/NQ lagging behind, expecting a run for previous month's low.
The idea of this trade a counter trend using ICT concept.
US30 provide a bullish run during the London session and retraced back to the OTE area prior to US market Open.
Load a buy entry at 0.618 Retracement with a bullish candle stick engulfing
Due to a delayed upload, my bias is neutral for the duration of the week. Initially, i was looking out for the weekly order block to be attacked, which occured before continuing it's downwards projection to the weekly sellside liquidity @ 37,675.
In my last YMM post, i stated that YM could front run the index markets and thats exactly what we saw. But this does...
Welcome to our discussion on the three vital aspects of a trade: Entry, Risk Management, and Exit. Mastering these components is crucial for successful trading. Let's delve into each aspect, understanding their significance and how they contribute to your trading strategy.
Entry:
The entry point marks the initiation of a trade. While it may seem straightforward,...
CBOT_MINI:YMM2024 Dow Jones Index Futures Elliott Wave Analysis CBOT_MINI:YMM2024
there Some more clearly we will coming week
1. If we are at WXY correction we bounce at first green zone ( note- WXYZ for lower target also possible)
2. If are doing ABC correction we will see further down early coming week for lower target.
Still overall bearish, but if we could clear Fridays lows, we could possibly get a scalp in on the retracement to 50% of the fib off Fridays drop. The bigger move however would be the short. There's close liquidity to the sell side on the HTF (Daily).
What a week we just had!
Friday we saw aggressive broad selling all the way into the close. The NDX is once again just flopping around in this multi-week range - while The Dow is meaningfully breaking down.
For indexes - I will be focusing on the Dow this week. The DJI has been super clean lately and is the only index really making the sizeable moves as...
Here is a short video on my key price action concepts which enable me to build a picture of what is happening and what side of the market I should be on.
I like to use Anchors to a trend and key levels to build the trades on a 5min and then use the 1min charts for the entries.
Enjoy the ramblings !!!
The basic concepts discussed are :
- Anchors
- Price...
