Potential spring - observing
Updated
If I see a good entry bar indicating that stops were taken and there is enough liquidity for a strong move up I might enter this as a Spring setup - a form of AB=CD.
What I don't like is the longer consolidation, but if you go to 1H it still confirms the bulling trend.
We are not here to predict the future, but to buy with a small stop in relation to the potential reward.
Some divergence from a lower timeframe like 15 min or at the 30 min will be nice for confirmation and confluence. I like to have at least 3 - horizontal support, some trend line, Stochastics in overbought, Some divergence, Fib level like 61% or 78%.
What I don't like is the longer consolidation, but if you go to 1H it still confirms the bulling trend.
We are not here to predict the future, but to buy with a small stop in relation to the potential reward.
Some divergence from a lower timeframe like 15 min or at the 30 min will be nice for confirmation and confluence. I like to have at least 3 - horizontal support, some trend line, Stochastics in overbought, Some divergence, Fib level like 61% or 78%.
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1H printed a good entry pin bar. 30 min looks like tweezer tops, but I agree entry was not that obvious although the price closed above the previous low which can be used as an entry signal. I typically prefer strong entry bars.
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