These structures on mid timeframe are always interesting to me.
Stacking those lows on twap style buying make me very anxious when I'm in longs. It's great to scalp ltf longs into momentum, but on mid or higher timeframe I'm aware that it's very likely to be corrected.
Since most of this move has been retraced now, the chart looks a lot healthier and we can focus on building structure.
The expectation is that price will fill that imbalanced move to the upside now, from where most likely price starts compressing between the just formed high and low.
If we immediately break higher and make a new high, that could signal strength and I'm less likely to look for shorts, but long continuation plays instead.
Stacking those lows on twap style buying make me very anxious when I'm in longs. It's great to scalp ltf longs into momentum, but on mid or higher timeframe I'm aware that it's very likely to be corrected.
Since most of this move has been retraced now, the chart looks a lot healthier and we can focus on building structure.
The expectation is that price will fill that imbalanced move to the upside now, from where most likely price starts compressing between the just formed high and low.
If we immediately break higher and make a new high, that could signal strength and I'm less likely to look for shorts, but long continuation plays instead.
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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.