Tuesday, June 06, 2023
I failed to notice one thing in real time and as a result, I didn’t take a trade that I should have.
I was watching ES go lower in the afternoon and around 2pm EST it made a new short-term low and then had displacement upward. I checked all the lower timeframes and the largest timeframe with the clearest FVG and displacement was the 4min (The 5min didn’t have a Market Structure Shift (MSS)).
I marked out the FVG and then Consequent Encroachment. I then watched price come down to 50% and I thought about entering long. But I did not like the location of the ICT 2022 Mentorship Model. It was around the Equilibrium of the NY AM move. Price then went back up and then continued going up the rest of the afternoon.
And then I saw it! I noticed well after the fact that YM had made a massive new low for the day while ES & NQ failed to do so. This is Bullish SMT Divergence. And this was the thing I had failed to notice. With SMT and then an MSS the up move was confirmed. This is how you can know to trust these 2022 Mentorship Model setups.
This setup was good for 5-10 pts. On a sloppy AM Session, it would have made anyone’s day.