<aside> <img src="/icons/reorder_gray.svg" alt="/icons/reorder_gray.svg" width="40px" /> NWOG / Liquidity Void / Soft bias

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If we draw a fib from the Old Daily High to the CE of the wick, we get Low, Mid and High.

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Now we use the Mid to High and draw another Fib.

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This is how Regular Trading Hours Gap look like.

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From Fridays Closing to the Opening on Sunday, we have Weekly Open Gap.

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Now we wait for 9:30 to see what we get. But most of the times when we have Gap like that, its more likely that it is going to be revisit, because Fair Value On the Daily Chart (not GAP) it last Fridays Close. Let’s say we trade at 4050 at 9:30. That means there is a large gap between Fridays close at 4084 and where we would open on Regular Trading Hours. Its more likely that the market will want to gravitate towards that direction. It doesn’t necessarily mean it will get there. This sets the tone for soft bias. Soft bias means we have nothing to lean on and this is our only expectation right now. Soft bias is only technicals are used, no injection of volatility, there is no calendar event, no 8:30 High impact news driver. So you have to wait until you get closer to the 9:30 Opening Bell.

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5m

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1m

Lets look at the FVG with trendlines. If we are bullish and we expect price to run to the Opening Gap, once price gets above this FVG, we want to see it act as a Support. The reason and logic why we would go up there is in the beginning of these notes, (soft bias).

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-Why price didn’t go below those EQL? -It doesn’t need to. -Why do we have that FVG noted? -Because it took out that Short Term High. -Why should we expect that? -Because we have our soft bias that we are looking to go to the NWOG.

That’s the DOL. And if we figure that out, where the market is going to go, that’s already 80% of the battle right away. Now lets zoom in…