MES1! No Trade — 2025-01-27

1/27/25 $MES We gapped down on the opening and took out several areas of SSL during the over night sessions. We finally saw price somewhat settling going into the pre market session. The selloff was related to the fall in price of the AI driven stocks with NDVIA, AMD, and SMCI among those taking a hit based on the AI company DeepSeek AI offering a less expensive competitor with equivalent capabilities.  

Once price set a STH and STL, this was the range that was my trading range for the day. The STL and STH were form at two different FVGs and within the trading range there was sideways price action with the -IFVG Manipulation Model Setup form during the New York Opening trading session. The setup did not give a return to the 5m-FVG (6039-6037) during the session, and this lead to the use of a pending order which was trigger during the New York Closing session and moved into profit nicely with partials take to close out the trade at 6026.25 and 6030.50 after seeing price respect the 15m+FVG (6025.50-6002.50). We traded down to the 6015.25 target but moved to fast to capture the target before we eventually reversed to the upside. The overall target was to trade into the lower 5m+FVG (6002.50-5997) just below at 5995.75 based on the fct that we sold off so hard and expected a continuation. 

Entry:6037.00 SL: 6044.25 Target: 6009.00, 6015.25, 5995.75 Adjusted SL: 6035