The daily profile is showing us a D-shape so far, which means it's an equal distribution between lows and highs, filled nicely. Expectation in this kind of profile is always rotation between VAL and VAH.
Sellers are dominating the flow, especially on spot pairs, but as we can see in the previous days' profiles, buyers step in aggressively below 95k, showing us good buying tails and quick reactions.
The selling tails are mostly missing, slow or poor highs, so if buyers can step in or selling subsides, those become easy targets for taking profits or looking for a bearish reversal.
We are currently setting up some bad lows on the daily session, one play is to wait for those to get swept in a quick move, then long into previously mentioned targets. If the sweep doesn't happen we can also look for slow grind up above today's VAH. In most cases, I use the daily POC for invalidation on those trades, but it is obviously just a point of reference and depends on local price action.
Sellers are dominating the flow, especially on spot pairs, but as we can see in the previous days' profiles, buyers step in aggressively below 95k, showing us good buying tails and quick reactions.
The selling tails are mostly missing, slow or poor highs, so if buyers can step in or selling subsides, those become easy targets for taking profits or looking for a bearish reversal.
We are currently setting up some bad lows on the daily session, one play is to wait for those to get swept in a quick move, then long into previously mentioned targets. If the sweep doesn't happen we can also look for slow grind up above today's VAH. In most cases, I use the daily POC for invalidation on those trades, but it is obviously just a point of reference and depends on local price action.
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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.