Simple 5m testing of BTC levels
Thesis:
Found the 15 minute supply zone where we consolidated mid nuke, idea was that people longed there and would close their for BE, causing a rejection. Idea was indeed correct as we corrected TWICE back down to range/low demand zone.
Confluence: h4, h1, 15m all were downtrending which gave me bias (under their respective EMA trends)
What I learned:
It takes time for your ideas to resolve so be patient & its crucial to consider where liquidity rests & how other market participants are likely to behave at certain levels.
Thesis:
Found the 15 minute supply zone where we consolidated mid nuke, idea was that people longed there and would close their for BE, causing a rejection. Idea was indeed correct as we corrected TWICE back down to range/low demand zone.
Confluence: h4, h1, 15m all were downtrending which gave me bias (under their respective EMA trends)
What I learned:
It takes time for your ideas to resolve so be patient & its crucial to consider where liquidity rests & how other market participants are likely to behave at certain levels.
Trade active
updat xx
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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.