<aside> <img src="/icons/reorder_gray.svg" alt="/icons/reorder_gray.svg" width="40px" /> Tape reading in HRLR. During Sundays review we build the idea that if we gap higher, we want price to come down to the low of the gap. It almost did that, but stopped at the C.E. Followed by MSS bullish, bullish breaker + BISI. That started the run to our 15m SIBI.

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Normally this will draw price into the gap. We focus first on these levels…

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The first 30min after 9:30 are the opening range. We don’t put much emphasis on that time. Usually the algorithms will start around 10am. During the 9:50-10:10 macro, I will look for what Liquidity pools we and inefficiencies we have.

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Since tomorrow we have CPI, don’t get in love with moves and expect big runs. Take your bread and butter setups and be done with it.

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If we don’t get the 4118, we are not upset because are expecting low volatility anyway, bc of CPI. Right now there is not much movement. CPI will bring that tomorrow. But notice how price broke above the Swing High, closed above it and then came back into Discount and inside BISI + Breaker. Now we can use that same Swing High as fulcrum point and find SD. You could use the -0.5 SD and that would still yield you 5 handles even without taking the BSL. That level would be okay for a partial, but we would be more interested in 4118.

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We draw can find the 0.25, 0,5 and 0.75 levels from the 9.02 12:30 SIBI. IF we reach the high end, that would be our AM session high objective and then we move to the sidelines. We can also be content if we hit only the C.E.

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Even though this is tradeable, it is still ugly price action. It is hard to fair out the High probability setups bc of the environment. We get more chop and retracements than we should. When the easier days come later this year, it will be easy to distinguish them. On days like this precision can be skewed and wicks can go outside of the PD arrays, but bodies should stay in.

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Because price didn’t get to the mid point, this is viewed as IOFED. If we are bullish and we are expecting price to go higher, you want a level of imbalance like that one to stay open, like a breakaway gap. Because we want to reach for the C.E of the 15m FVG. Its 10:16 so there is still time for a move into the C.E.

Breakaway Gap is when price really snaps in one direction and it doesn’t have much interest coming back. This is indicative for higher price runs. But because we hit the lower quarter of the 15m FVG,