Not trying to fade ATH run but the SSL in this daily range looks too obvious to me. Super premium.
Price was in a consolidation July 7th - 14th. Took external range high today. I really could see shorts playing out if theres a intraweek reversal confirmed after purging the ERH.
Would need to see 1h CISD confirm intraweek reversal to the downside then trade the daily continuation lower targeting 22,779, 22,578 & EQ of the range at 22,370. Also, the daily BISI that needs sellside delivery.
CPI scheduled this week. PPI following.
Price was in a consolidation July 7th - 14th. Took external range high today. I really could see shorts playing out if theres a intraweek reversal confirmed after purging the ERH.
Would need to see 1h CISD confirm intraweek reversal to the downside then trade the daily continuation lower targeting 22,779, 22,578 & EQ of the range at 22,370. Also, the daily BISI that needs sellside delivery.
CPI scheduled this week. PPI following.
Trade active
Just realized i didnt update since I was in the comments. Took shorts after monday close. Swinging to 22780 and potentially further below.Classic Expansion profile. Following the range protocol. Waited for external range to be swept. Tuesday closed back inside the range. Logic is Wed - Thur continuation targeting opposing liquidity.
23,060 entry. 1h SIBI above BSL. 23,150 SL
Note
Moving my stop to high of day at 23,090Note
That 4h rejection off the lows was not ideal lol ES ran the range but NQ couldn't reach external.Trade closed: stop reached
Might have mismanaged some profit taking opportunities. Price came close to ERL target. ES ran the external low, NQ failed then retraced back inside the range and eventually tagged the rest of my position out. Great trade idea.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.