EOS is leaving a huge liquidity trail behind. Just look at the 4 hr higher low wicks. All these wicks are just representing stop losses.
The pwProfile (previous week profile) is showing us short-covering. Aggressive short-term buyers are competing against long-term sellers who will target all the lower liquidity at some point.
I took a small short already here above the pwVAH (previous week value area high). I might add at the FTR draw (if it will get hit) and I am even open minded for a surprising run to the upper pwVAH.
Hard to tell if it will break down from here or if it will go higher first to generate some more liquidty. Overall I am prepared for downside and I want to see the lower pmPOC (previous month point of control). This level is my main target.
The pwProfile (previous week profile) is showing us short-covering. Aggressive short-term buyers are competing against long-term sellers who will target all the lower liquidity at some point.
I took a small short already here above the pwVAH (previous week value area high). I might add at the FTR draw (if it will get hit) and I am even open minded for a surprising run to the upper pwVAH.
Hard to tell if it will break down from here or if it will go higher first to generate some more liquidty. Overall I am prepared for downside and I want to see the lower pmPOC (previous month point of control). This level is my main target.
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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.