*99% in my mind which can mean 1% in someone else's. That being said, I invite you to watch this video and then tell me where I'm mistaken...
Hope to see you there soon!!!
Happy trading all :)
Hope to see you there soon!!!
Happy trading all :)
Trade active
Utilizing volume analysis on a 15 & 5 minute chart, you can see (where I drew the arrows) how I created our LTF Supply zone. This, aligning with our LTF strong & current selling channel, in addition to the sharp bullish move into and rejecting of our supply, gave me a sniper entry opportunity for a short. This is just the beginning and may not be the top. Plenty of opportunities to add to this short if we break into the $84,500, $86,500, and as high as $87,000. Note
Beautiful snipe entry prior to the ensuing movement down. Will look for follow through but keep in mind this is a LTF (15 min) chart which I use for entries and is only important when it lines up with HTF confluences such as algorithms and S&D zones. Should be an interesting weekend! Happy weekend to all!
Note
Just to show you how this progressively works on any time frame (but obviously we but much less weight on LTF's) - This small supply zone I drew in is within that move down where price retraced to it and I had identified (again using simple volume analysis on a 1 minute chart) where sellers are sitting. We then retraced back to this level and rejected. If we can do this on a daily time frame, we'll be catching some serious trades! Note
No surprise we broke out of our LTF algos as expected and we ran straight for our HTF (daily) strong selling algo (red) which I discussed in the video. Unfortunately the futures market closed by now so was unable to get filled on my $84,500 limit sell order but this is where I expect a stronger and larger dump to come from.
Especially with a reaction like this one, it seems the original analysis is holding some weight!
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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.