Whenever you have a nice big run higher or lower, those are the times you want to look for TGIF. They're really likely to have these pullbacks towards the end of the week, and how far will it pull back? 20 to 30 percent of the weekly range entirely. So, you can see that 15,698.50 is 20% of the weekly range for Nasdaq. So, that level is going to be important going forward in this presentation. TGIF for 'Thank God it's Friday.' It's a way for you to remember that that model is a day-of-week specific model, and it's capitalizing on creating a reversal of the entire weekly range to a 20% to 30% of the entire weekly range.
When we see the stop run here that takes out the sell-side below A, our eyes go right to the A-B prior to the C. It qualifies this as a bullish ICT breaker. So, this is your measuring range. You take your Fibonacci, apply it to the low to the high, extend it to multiple extensions. You can do extension SD -1. Here we have SD -2 comes in at what price?
It’s 2 ticks away from the actual high. 💎This is Projection of Weekly High.
💎Three drives pattern, that is a classic retail pattern. Yes, it does work if you have the context, you know the draw on liquidity and where you're trying to aim for. If that's correct, that pattern will work for you. If you see a level or a direction fail after three attempts and it breaks down, and if you see a breaker or a model in 2022 inside of that, wow, what a beautiful model.
💎When we have 2 FVG’s in close proximity, the 2nd one will be IOFED. If it is only one, we can expect price to reach higher inside the FVG.
The market's been going straight up all week, and now we're at the end of the week, so this is completely acceptable and reasonable to see in price delivery. And it's not to say that we've called the top of the marketplace because, as it was mentioned in July 9th, 2023's analysis, 🧠we do not try to pick tops and bottoms on higher time frame charts because you can hurt yourself doing that.
Look at these candles at the C.E., the bodies tell you the story. The wicks, they do the damage, and this is telling you a narrative. It means the algorithm is in a sell program; it's going to seek sell-side liquidity, it's going to run on sell stops, and it's going to run to inefficiencies.