first good looking potential setup on nasdaq I've seen since trading SD.
Great liquidity on the demand side, and nice target on the supply side.
Volume is good for the demand side, as for the supply the volume actually dropped with the big move that broke the consolidation. will be interesting to see how price reacts.
My mentor @bischoftrader
Solid block with good move leaving the zone. potential shorts targeting the lows 166.45 offers good risk to reward ratio.
vpvr confirmation to go in hand with solid move out.
My Mentor @bischoftrader
beautiful supply zone has been created on Gu 4H. Upon confirmation some shorts will be taken targeting the liquidity bellow.
4 touches to the liquidity line, some S&R traders are guaranteed to have S.L.S. bellow that line making it an excellent target.
ultimate target would be the demand zone bellow that.
Confirmations,
1. VPVR shows 168.2xx have Volume POC
2....
Supply to close gap.
After being a part of the liquidity gap I spotted the supply above it. and was able to take advantage of this opportunity.
My Mentor @bischoftrader
Compression of price and explosive move to down side. creating a supply block we will look for shorts from.
given the correct confirmations shorts taken targeting the lows, as the wait continues for longs from the demand block.
My Mentor @bischoftrader
after showing an initial reaction from the 4H supply, we created a smaller 30m Supply from where id consider taking shorts.
* did not make a higher high when the block was created. broke 15m and 5m structure.
My Mentor @bischoftrader
After the consolidation of the prior week, a strong move to the downside broke us out.
we have vpvr confirmation with an immense leg out of the consolidation.
shorts will be considered when retesting this are for longer term sells.
My Mentor @bischoftrader
Monday Asia Session id like to see GJ Retrace ad offer an opportunity to join the downward momentum once again.
Price closed in A DAILY Demand zone, Asia session could set us up for buys to the supply zone indicated. however id like to see some liquidity being set up first.
For the buys, a complete break in MS would be required.
Long term we headed down as once...
After being taken out of the original trade, we finally got some confirmations of the short. a retest to the above zone would be prime for a short entry targeting 161.
After prior weekly candle rejected prior lows, and Friday ended engulfing the Thursday candle. Monday being a slow day in terms of volatility.
From Tuesday looking for longs from this area as upside potential is very high.
