Long

20240802 ES

Updated

I anticipate some downside potential for the 30min till 9.00am. I anticipate an upside move with TGIF narrative. It is too early for the reversal call. I would like to see where price will be at 9.00am. Meanwhile the initial reaction to the NFP news is to the downside. I anticipate that to be a fake move and the main move to be to the upside. BUT there should be signs of reversal to the upside.

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11.36 15mTF
THere is nice AMS move to the downside. NFP created downside move. The PA is in the 4h bisi and w bisi. THe 15m+MSS level breach to the upside will be the first sign of the TGIF start.

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There is a possible DOL for the ideal retracement but LHS is very close and one more low of the day will be even better for PMS move to the upside. NFP day means higher risks and there is still DXY asymmetry (DXY moved downside with stocks)
I would like to see some respect to that 15m bisi first

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I would like to see more downside around 1.30 -2pm and move to the upside after that.
LHS for the Time distortion.

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Looks like nice moment for PA to start the upside displacement. The main focus on the last hour (3-4). Soon it will be more visible if PA has TGIF for today

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IF there is a spooling then it is more opportunities for the upside
But the first DOL = Low hanging fruit. The HTF DOL is TGIF 20-30% of the weekly range.

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start of the last hour. It is the main focus. If there is TGIF then it should manifest itself during this hour.

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Low hanging Fruit DOL is the next to be reached. There is nothing that contradicts more upside to the TGIF level but it is very close to the end of the RTH and being content with enough can be a wise choise.

Yoo_Cool

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