For this trade, we tapped into a PD array which was a daily Fair Value Gap. We were on a deep discounted area on the bearish leg for an Optiomal Trade Entry. Price ran down internal range liquidity after equities open, touching on the midpoint of our key level based on the Nasdaq 250 point move with reference to Institutional Levels reference point giving us an idea of upside potential.Overall Market view, Bullish based on above confluences.
Commentaire:
The market went bullish as expected. We broke above our institutional level(15500) and retested on the breakout. The market bought on the restest as expected and Hit TP which was the midpoint of our key level (15625).