Splitting this edition in two charts because both htf and ltf are interesting here, let's dive in!
HTF (bottom chart)
- Since we are clearly trending over the last few days, I'm adding back my EMAs. My mistake for not looking at this earlier, we can clearly see how H4 EMA 100/200 (yellow) have been resistance since the start of Feb.
- First tap of D1 EMA 200 (green): no reaction, which shows the weakness (or actually strength of sellers). Now consolidating just below. Get above means we expect to fill the gap to D1 EMA 100 and/or H4 EMA 100/200.
- Post-election range is lost. Giving no retest other than on very ltf so far, we have to see this as a strong breakout.
- Big green box is the imbalance we left after breaking out of 2024 range. In a way that is perfectly normal, we'll have to monitor closely what happens inside though.
- Question is now this:
do we find demand here and accept back inside our previous range? In that case we can expect range poc or even range highs to get tagged.
if we don't find demand here, we look at htf volume profile next. 70k is were high volume starts, which is normal because that's where the acceleration upwards started. Hold 70k should be important for bulls. If we get below, it should be on a liquidation cascade that gets bought back up quickly. That's bulls LIS for continuation upwards tho imo.
- HTF structure is not very practice for us to consider here, as you can see that structure remains "bullish" until 50k is lost. Not actionable for how I trade, but good exercise to stay aware of it.
LTF (top chart)
still have some drawings from a few days ago (red lines):
- Tuesday's POC indeed became resistance, from where we took out the bad lows we identified.
- From there we had a decent buyback, tagging H4 trend for the first time since our trending move down began (white lines). This is almost always resistance on the first tap, especially since it coincides with the orderblock that created the last lows (red box).
- if we manage to break H4 trend I think the single prints above are a good target, taking out the first series of bad highs and tagging H4 EMA 100. From there we broke structure (purple lines) as well and can assume that we found balance, chop around a bit here before picking a direction.
- If we don't break H4 trend we either look for consolidation between 78-87k, position on the extremes or imbalances
- grinding below 80k instead of taking those stops with a quick move, would make me weary for new lows.
HTF (bottom chart)
- Since we are clearly trending over the last few days, I'm adding back my EMAs. My mistake for not looking at this earlier, we can clearly see how H4 EMA 100/200 (yellow) have been resistance since the start of Feb.
- First tap of D1 EMA 200 (green): no reaction, which shows the weakness (or actually strength of sellers). Now consolidating just below. Get above means we expect to fill the gap to D1 EMA 100 and/or H4 EMA 100/200.
- Post-election range is lost. Giving no retest other than on very ltf so far, we have to see this as a strong breakout.
- Big green box is the imbalance we left after breaking out of 2024 range. In a way that is perfectly normal, we'll have to monitor closely what happens inside though.
- Question is now this:
do we find demand here and accept back inside our previous range? In that case we can expect range poc or even range highs to get tagged.
if we don't find demand here, we look at htf volume profile next. 70k is were high volume starts, which is normal because that's where the acceleration upwards started. Hold 70k should be important for bulls. If we get below, it should be on a liquidation cascade that gets bought back up quickly. That's bulls LIS for continuation upwards tho imo.
- HTF structure is not very practice for us to consider here, as you can see that structure remains "bullish" until 50k is lost. Not actionable for how I trade, but good exercise to stay aware of it.
LTF (top chart)
still have some drawings from a few days ago (red lines):
- Tuesday's POC indeed became resistance, from where we took out the bad lows we identified.
- From there we had a decent buyback, tagging H4 trend for the first time since our trending move down began (white lines). This is almost always resistance on the first tap, especially since it coincides with the orderblock that created the last lows (red box).
- if we manage to break H4 trend I think the single prints above are a good target, taking out the first series of bad highs and tagging H4 EMA 100. From there we broke structure (purple lines) as well and can assume that we found balance, chop around a bit here before picking a direction.
- If we don't break H4 trend we either look for consolidation between 78-87k, position on the extremes or imbalances
- grinding below 80k instead of taking those stops with a quick move, would make me weary for new lows.
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twitter.com/mooncakexbt
twitter.com/huskyXBT
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.
Tealstreet.io Trade Faster & Trade Easier
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
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.