SPINNING TOP WHITE- 5hr candle
Updated
Fake out & moved to contraction. 1.97% RRR. STW on a 5hr chart candle. EQ to OB. Safe exit at 0.76 but no more than 0.79. Many will think resistance but I don’t see it happening. If traders bought late above 0.80 then many will exit without a loss if there’s a second spike and this does not benefit Smart Money. Smart money has added to many bearish OBs as a way to speak to themselves. SM will want to delay in order to cause traders to sell for a loss.
Note
Many who have entered the trade late above 0.80. BIGTIME is a coin totally managed by smart money and Sharks, and smaller institutional investors. I see all groups. As BT wants to move up. They sell to dip the coin then another group buys to move up the coin. Happens constantly over and over.
Good news is; I have bullish contractions in play above the candle trend means trend will surpass it and ATR reads more value above 0.64 this always means trend will also surpass it.
Patients. I would not sell for losses.
Discount price was at 0.52. EQ is at 0.62 and next OB is at 0.64 on a 30 minute time. 1hr OB reads 0.69.
There can be more.
1hr bullish contraction reads above 0.80.
My conclusion is they’re waiting for traders who bought late to sell for losses.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.