We remain bullish on Dollar. That will put pressure on EUR and GBP so they will go down.
Whenever we have these, kind of, like bookends, e have strong opinionated reasons that we can make the case for higher prices and for lower prices. And when we have that, everything makes trading with a great deal of precision that would otherwise be apparent in all time frames. It kind of reduces it down to a very infrequent price delivery.
Let’s focus on this small FVG.
It's an actual inefficiency, this little area in here where one single candle passed up to the upside. That's a buy side inefficiency. So, it's not had any overlapping with any other candles after it formed on the downside, so it's lacking sell-side delivery. It's part of this swing low, part of an expected redelivery between the high of the Daily BISI and the low of that same Daily BISI.
If we are up in the upper portion of that range, above C.E., and we're seeing the market start to break down, it's doing here this inversion fair value gap. How does ICT know which FVG to use as Inversion? He is employing a lot of different things - time and price, institutional market structure. You need to know what you're looking for in the grand scheme of things. Price was already working its way down into and towards this redelivery on BISI Low.
The main takeaway is that all of this price run going down is just simply trying to get down to the Daily BISI Low because it was one singular candle on the daily chart that went up. So the market will efficiently deliver sell-side delivery. Sell-side delivery is just the market offering price between the Range High of the daily BISI High 15361.50 and the low of that daily BISI at 1526.50. If we were to take that range and find the mid point which is C.E. Anything at that price level or higher is a premium. If we're bearish, we really want to be selling short up here with the expectation that it's going to aim for something down in the lower half and ultimately perfectly delivered to this lower level at 1526.50. It need not do that. So what levels are we looking for? The lower quadrant at 15185.25. And also Tuesday August 29, 2023 10am BISI Low. We use those levels just in case price doesn’t reach the absolute daily BISI Low.
