NAS100 ANALYSIS

Watching how Nasdaq will behave at that high, waiting for price to reverse back and take out session liquidity resting above that level after CPI release before I take any trade from there

Still watching the circle high very closely, waiting for CPI by 2:30pm we are expecting softer CPI from the previous data due to fall in energy prices

This is what I am expecting NAS100 to do, I expect price to sweep Internal range liquidity then sell

CPI didn't give the trigger I expected so trade is invalid

That level price didn't even visit it at all

Because of CPI

CPI was supposed to facilitate that process but instead just pushed the pair lower without any manipulation of any sort

After the CPI disappointment I had to go down on scalping Nasdaq, price almost got to my tp and later reversed again

The idea

Nasdaq after CPI pushed down it left an imbalance which price had to fill up, so when I spotted the imbalance decided to look for a short buy into the imbalance level

Trade approach:

After price created the imbalance (highlighted in my previous post) I decided to look for a Reason to go long, so price created a double bottom which I marked out, and that wasn't the confirmation, I waited to see if the double bottom will be swept, now price reversed swept the double bottom as my confirmation. The sweep is marked by an arrow

After the double bottom formation, price created series of down close candles marked out by the circle, price now printed bullish candles breaking above all the bearish down close candles which I always refer to as cisd(change in state of delivery) and that was my confirmatory trigger to go long, the cisd is marked with the arrow as indicated in the image

Closed out with take profit of +$200

Good trade

That's wild