CTC jumped into my eyes because of the OBV. It is going higher and higher on every pullback while maintaining lower highs in price. Looks like MMs keep dumping onto naive buyers that try to buy every "cheap bottom". This is absorption at it´s best. Seellers are really loding into longs at local highs. Price reclaimed the pmPOC but that alone isn´t bullish enough to me. Local 4 hr SFP is not really a sign of strength and we did not spend a lot of time here at the "new local higher high". We are here since roughly 10 hours. It is quick move that happened, here for a short time, already showing since of weakness, I am favoring downside. I would reevaluate if the 4 hr SFP high get´s broken but I probably wouldn´t change my mind into a bullish one, would rather look for another short opportunity. The SFP high stopped at the LVN of the relevant pmProfile. That´s not bullish. If bulls would be strong, they would slide through it and flip it into support / demand. The local uptrend also left many SPs below, which I would like to see filled at some point. This is not a strong foundation for endless upside. I want to be on the side of MMs dumping their **** on the buyers. Will see how this one will play out.
If you want to receive signals or learn trading, this is the place for you:
discord.gg/KT8hWZ4pfP
discord.gg/KT8hWZ4pfP
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.
If you want to receive signals or learn trading, this is the place for you:
discord.gg/KT8hWZ4pfP
discord.gg/KT8hWZ4pfP
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.