Class A ▼ detected in cash

Thu, Jul 23, 2026, 01:39 PM EDT

ICT perspective

Setup, swing context, displacement, killzone

▭ FVG▭ iFVG┄ MSS━ OB━ PWH/PWL▣ Swept

A bearish Class A displacement forms after the sweep of the London Lo (28922.25). Price moved from the ITL at 28432.5 through the ITH at 28922.25, then rejected lower, creating a fresh downward displacement between 28676.75 and 28570.5. Within this displacement sits a bearish FVG (28633.5–28651.5) — the unfilled void from the initial rejection candles. The MSS level sits at 28588, positioned near the displacement bottom, marking potential structural support. Currently in cash session after a full cycle of overnight liquidity sweeps (PDH, PDL, Asian Hi/Lo, London Hi/Lo, NDOG CE, DL all taken). The HTF bias on the 60-minute chart remains bearish, aligning with this intraday move. A student observing this setup should note how the sequence of multiple sweeps prior to displacement often signals directional commitment—when nearly all available liquidity has been hunted, the subsequent Class A typically carries cleaner structural intent.

same setup, second lens

Traditional TA perspective

VWAP / EMA stack / RSI / MACD / Volume

━ VWAP━ EMA 20━ EMA 50┄ EMA 200·━ RSI(14)━ MACD━ Signal

Price sits 180 points beneath VWAP with the 20 and 50 EMAs compressed below the 200, confirming a bearish stack structure. The RSI at 40.93 reflects weak momentum without oversold conditions, suggesting room for further deterioration. MACD shows the line trading 8.21 points below its signal with a negative histogram, consistent with downside pressure persisting. ATR at 37 points indicates moderate volatility typical for this instrument. Volume at the firing bar measures 1857 contracts against a 20-bar average of 2464—a 0.75 ratio representing average conviction, neither notably heavy nor light. The combination of price below all key moving averages, negative MACD histogram, and RSI in the 40s describes a structure where momentum favors continuation lower, though the below-average volume suggests the move lacks aggressive institutional participation at this moment.

Setup context

MSS level: 28588
Displacement: 28570.5 → 28676.75
FVG: 28633.5 → 28651.5
Killzone: cash
Swept liquidity: pdh, pdl, asian_hi, asian_lo, london_hi, london_lo, pm_hi, pm_lo, nwog_ce, ndog_ce, dh, dl

Swing sequence

ITL@28678.25 → ITH@28780.25 → ITL@28432.5 → ITL@28922.25

New to the vocabulary? See the glossary for plain-English definitions of every ICT term used above.

Educational observation only. Not financial advice.