BTMM MODEL
This is an example evaluation of BTMM model by Steve Maruo
We see an asian range below 50 pips creating fake support and resistance lines
we see london pumps above the channel and then price falls, when retail traders enters short position for zigzag trading they wipe out all of the stoplosses that are set by the book.
They dump the price and as soon as New York starts we see volatile movements.
there is the first leg of the W (double bottom ) evident on the chart. They are accumulating long traders to wipe out their stoplosses and then pump the price. However, if they cannot achieve to accumulate enough long trades, even after getting the stoplosses 50 pips below the recent low which is the first leg of the W pattern, then we expect vector 3 candle pattern downside. so watch out for the stoploss hunt and take position accordingly
Technical nuances:
asian range is less than 50 pips
london pump is more than 50 pips above asian range
there is a stoploss hunt before the dump
dump consist of vector 3 candles
We see an asian range below 50 pips creating fake support and resistance lines
we see london pumps above the channel and then price falls, when retail traders enters short position for zigzag trading they wipe out all of the stoplosses that are set by the book.
They dump the price and as soon as New York starts we see volatile movements.
there is the first leg of the W (double bottom ) evident on the chart. They are accumulating long traders to wipe out their stoplosses and then pump the price. However, if they cannot achieve to accumulate enough long trades, even after getting the stoplosses 50 pips below the recent low which is the first leg of the W pattern, then we expect vector 3 candle pattern downside. so watch out for the stoploss hunt and take position accordingly
Technical nuances:
asian range is less than 50 pips
london pump is more than 50 pips above asian range
there is a stoploss hunt before the dump
dump consist of vector 3 candles
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