<aside> <img src="/icons/reorder_gray.svg" alt="/icons/reorder_gray.svg" width="40px" /> Tape reading. DXY Draw on Liquidity providing Risk OFF. Measuring Gap. HLRL vs LRLR. Macros. 3 Premium Arrays vs 3 LL’s. Last trading Hour Macro. Bond market close.

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Today is obviously the immediate day after FOMC. Whenever we had an FOMC event or a large range event, a lot of volatility and such, the very next morning session you don't want to be doing too much of anything. Only study and paper trading. After High volatility event Price Action can be messed up. There is plenty of time during the Last Trading hour to find some setup.

At this point ICT has bearish bias and nothing of interest to the up side.

We use the Opening Range Gap, the same way as other Gaps. After price has used it once, its not done and dusted. We extend it to the right.

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The Liquidity Void on DXY, could act as DOL in addition to the Buyside, REH. That would be risk OFF and allow lower prices on ES. NQ has 5m Discount BISI ⏬

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This could be a potential short entry aiming for the Sellside. We short IOFED from the SIBI, with stop loss above the high. If price runs away without us, that is fine. Plenty of time to find another setup.

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<aside> 📝 On a days after FOMC, the precision is lacking to a degree. It doesn’t mean that you can’t find setups. It means that the market could be more reluctant to just run away in your favor. Many times you will see retracements further than what you want to see. Or consolidations longer than what you wanna endure. And it can be frustrating if you are used to LRLR conditions.

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If we are bearish, we want to see Premium PD arrays hold price lower. This what we look for in price to support our ideas. What PD arrays do we have now? The 3 green candles are -OB, we have the C.E. of the wick and also the SIBI that we “entered” from. And we moved away from the Opening Range Gap. So we want to see price now remain heavy.

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We don't mind the volume and balances being traded through. That's one of the very flexible PD arrays. It makes it difficult for students to learn because you want them to act like, an order block or a breaker, where it's very finite. It does this and nothing else. We're also learning that all of ICT’s PD arrays have a inversion aspect to them. So when the narrative changes what used to be a bearish PD array can be utilized as a bullish PD Array.

Dollar doesn’t look like it will do too much for us here.

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Current time is 14:12. Because it's a little bit later into the two o'clock hour and because we've been drifting lower, it's okay for this market to want to make short term rally.

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Because we didn’t get a follow-through on the downside, price is short term oversold.