New York Midnight Open - Influential.
Here is an example whereby the New York Midnight Open (NYMO) was influential.
Overnight trading and pre-equities open was drifting just below the NYMO price.
and once it broke above for the 2nd time with intent...it rallies hard higher for remainder of the mornings session.
However, as we breakdown lower, approaching the breakout area of the morning's rally, we see a great deal of support and unwillingness to break down further; as we enter the final hour of trading.
This is likely due to the original displacement 15min FVG / BISI which triggered the morning's move, with candle bodies respect the C.E. of the FVG, now acting as support.
And within that same vicinity is also the NYMO price. The market dips below the NYMO price, hitting the Bullish Order Block (+OB) perfectly, right at the 15:15 to 15:45 macro.
Which fires the market higher before the equities closing bell, running against those who were short from the lunchtime/afternoon run lower.
Overnight trading and pre-equities open was drifting just below the NYMO price.
and once it broke above for the 2nd time with intent...it rallies hard higher for remainder of the mornings session.
However, as we breakdown lower, approaching the breakout area of the morning's rally, we see a great deal of support and unwillingness to break down further; as we enter the final hour of trading.
This is likely due to the original displacement 15min FVG / BISI which triggered the morning's move, with candle bodies respect the C.E. of the FVG, now acting as support.
And within that same vicinity is also the NYMO price. The market dips below the NYMO price, hitting the Bullish Order Block (+OB) perfectly, right at the 15:15 to 15:45 macro.
Which fires the market higher before the equities closing bell, running against those who were short from the lunchtime/afternoon run lower.