Intraday Narrative:
NQ has delivered a sell-side liquidity sweep during London, taking out prior lows. In contrast, YM has already swept London lows, creating SMT divergence, indicating relative strength in NQ at the lows.
Price is currently trading into a 1H BISI (imbalance), suggesting a potential area of reaction. Holding above this imbalance keeps the bullish intraday bias intact.
Current Read:
– Sell-side liquidity has been taken
– SMT divergence confirms strength on NQ
– Price reacting from discount and holding structure
Expectation:
As long as price holds above the current imbalance, I expect continuation higher toward Monday’s high, which acts as the primary buy-side liquidity draw.
Execution Plan:
Look for retracements into discount / intraday imbalance
Wait for lower timeframe confirmation (displacement)
Target Monday high (BSL)