Class A ▼ detected in pm_sb

Tue, Sep 8, 2026, 02:45 PM EDT

ICT perspective

Setup, swing context, displacement, killzone

▭ FVG▭ iFVG┄ MSS━ OB━ PWH/PWL▣ Swept

MNQ11 forms a Class A ▼ after successive sweeps of PDH, Asian Hi, London Hi, and PM Lo liquidity, with the most recent displacement reaching 29519.5. The swing sequence shows an ITL at 29549.5 (the MSS level) formed after the prior ITH at 29645, establishing clear bearish structure. Within this displacement, multiple FVGs and iFVGs layer between 29599.75 and 29619.5—the iFVG at 29599.5–29616.25 and the bear FVG at 29612–29619.5 both sit unmitigated inside the move lower. The current killzone is PM session, where the structure developed. A key observation: the bear FVG (29612–29619.5) formed during the sweep phase and remains unfilled as price dropped through the iFVG below it. This nested FVG setup—bull iFVG first, then bear FVG layered above—often precedes further displacement when the lower iFVG compresses. The PWH at 29720 and earlier ITH at 29645 define the asymmetry students should monitor for potential retracement context.

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 38 points below VWAP with the EMA stack inverted—20, 50, and 200 all trading above the close—signaling downside pressure in the structure. RSI at 36 reflects weak momentum with room to decay further into oversold territory. MACD presents a clear bearish setup: the line at –4.58 trades below the signal at 0.85, and the histogram sits deeply negative at –5.43, indicating momentum divergence and selling dominance. Volume at 36,409 contracts—nearly 4× the 20-bar average of 9,381—confirms conviction behind the move; this is not a thin, reversionary dip. ATR at 25.42 marks moderate volatility for the timeframe, typical of intraday expansion. The combination of price rejection below VWAP, inverted EMA alignment, weak RSI, and negative MACD histogram all reinforce a coherent bearish structure, with heavy volume lending structural weight to the downside pressure.

Setup context

MSS level: 29549.5
Displacement: 29519.5 → 29641.5
FVG: 29600 → 29603.25
Killzone: pm_sb
Swept liquidity: pdh, pdl, asian_hi, asian_lo, london_hi, london_lo, pm_lo, nwog_ce, dh, dl

Swing sequence

ITL@29424.5 → ITH@29645 → ITL@29549.5 → ITL@29478.5

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

Educational observation only. Not financial advice.