— study — 2026-08-23

The initial expectation is is to consider the high marked in the Pre Market 29785.50. The real expectation was to look at the high aboe of 29793 as this was made before the opening but we got a LTF CISD prior to the opening and we basically left the 785 high in place with theLTF failure. The bias and context ahead of the move is that we are pushing to the downside, however, there has to be a consideration of price possibly pushing up before we drop so this is the reasoning to wait for the The price traded into the range 3 times:

1. ▸

   First the high was set, a CISD on the LTF confirmed, a first attempt to rush the high 29793 and fail. This set a potential high failure with a CISD in line with the 29785.50 high this is setting up the potential play with the entry: 29747.00, SL 29793 or 29785.75, target: 29534.00. Now we just have to wait for the high to be challenged and then entry confirmation. We came into the range and made a high at 29760.25. The didn't spend much time in the range and would likely have not given us much time to really setup for it. If catching it, this would have been a good trade though.

2. ▸

   Second, we ran back in the range after taking out the DL and then trading back up to the range. This is right at the 9:30 opening, which we immediately traded away from the range and only spent 1 candle in the area. This would not have been a good entry setup so nothing would have come from this.

3. ▸

   Third, now this is one that could have likely never given us an attempt because we had already come into the area and failed the 29785.50 several times. So with this setup and entry, it would require that price trades near the mid point of the manipulation range and either trade through it to take out the high and fail the downside narrative to continue higher or fail the mid point and then continue lower as expected. This is the scenario that took place and then it is about managing the trade.

Once in the trade, we should look for the initial stop loss move once we move to 1R and this is in line with the last swing in which we will set the above/below. In this case it is the 29687.00 and 29680 lows and there will be a move in line with the continuation with the move lower. Our last swing low made after the 9:30 opening move is the move that confirms our next SL move at 29631. At this point, this is a heavy partial and there should also be a full stop loss in profits move and potentially a full exit.