An inverse head & shoulders, with a falling wedge, all great ways to induce buyers into the market once the new week opens. Buyers would consider an immediate drop on the week Bullish.
When the weekly opens, it may in fact drop momentarily to 94k to create this pattern and start going back up. This would liquidate weekly open high leverage bears and encourage bulls to open positions.
In this scenario, many would lose money, as TP's are unrealistic.
Last time the weekly did not liq grab and it dropped, so it would create FOMO shorts this week.
Also weekend liquidity still has not been grabbed.
When the weekly opens, it may in fact drop momentarily to 94k to create this pattern and start going back up. This would liquidate weekly open high leverage bears and encourage bulls to open positions.
In this scenario, many would lose money, as TP's are unrealistic.
Last time the weekly did not liq grab and it dropped, so it would create FOMO shorts this week.
Also weekend liquidity still has not been grabbed.
Trade closed: target reached
Take Profit hitNote
Interesting how they are dumping it everytime without weekend liquidity grab, it suggests a move to 130K at some point this year for a Buying Climax
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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.