Next month as mentioned expecting a sell here a short term reversal that should b brought afterwards. .. the trend is still bullish thus short trade sizes should be reduced.
Here we have a range breakout.
Our fibs levels are very significant to market agenda n been back tested .
25% is wick retracement pullback for a next daily move when the pervious day close strongly high or low. 25% is where the best continuation lies . 50% in this case is still good to take but it’s a signs of soon to be weakness in this case
50%/ .61 is the trend breakout retest ratio we look to see how the manipulation this area ex in a bullish breakout traders will buy the 61 pullback n sl that we look to see if the market takes them out at these ratios
.67 is the sl placement after the fake out round the 50% and .61
.75 is the failed trend breakout level. Out a range if it’s not a retest of the range n return 75% it’s weak . After a breakout set bars if price return 75% it’s weak.
Thus we don’t trades these move even if price continues cus the weakness will come n we’ll wait 4 that n trade it while everyone is focus on the fake.. if the weakness corrects (range ) n then continue with strength then we’ll trade with it even if the initial retrace was 75% as the range corrected the initial weakness and this do happen..
Here we have a range with trend breakout bars with a body retrace close above the 75% thus the market is still bullish…
So there’s no shorting the market rn n those who do will probably get ate.
Also from our psychology to even short a strong bull market( open a position again the trend there must be a significant net movement to even do a otherwise foolish move ) there must be a structural double top. Structure is defined on weekly n monthly charts! Not daily or lower so to see traders forecasted a reversal large pips set ups again the trend on hr charts when the higher time frame hadn’t supported that is scary… good luck with doing that weird stuff long term.
The short will have to come above price as a potential double top or it’s variants That’s the only way distribution can occur to have enough orders to retrace all the residue buying.
Plus it only make sense that buyer will retest this wick here ..
The best set up isn’t to buy or short but is to wait to short… n see how price maneuver itself up for the retest
Gl
Here we have a range breakout.
Our fibs levels are very significant to market agenda n been back tested .
25% is wick retracement pullback for a next daily move when the pervious day close strongly high or low. 25% is where the best continuation lies . 50% in this case is still good to take but it’s a signs of soon to be weakness in this case
50%/ .61 is the trend breakout retest ratio we look to see how the manipulation this area ex in a bullish breakout traders will buy the 61 pullback n sl that we look to see if the market takes them out at these ratios
.67 is the sl placement after the fake out round the 50% and .61
.75 is the failed trend breakout level. Out a range if it’s not a retest of the range n return 75% it’s weak . After a breakout set bars if price return 75% it’s weak.
Thus we don’t trades these move even if price continues cus the weakness will come n we’ll wait 4 that n trade it while everyone is focus on the fake.. if the weakness corrects (range ) n then continue with strength then we’ll trade with it even if the initial retrace was 75% as the range corrected the initial weakness and this do happen..
Here we have a range with trend breakout bars with a body retrace close above the 75% thus the market is still bullish…
So there’s no shorting the market rn n those who do will probably get ate.
Also from our psychology to even short a strong bull market( open a position again the trend there must be a significant net movement to even do a otherwise foolish move ) there must be a structural double top. Structure is defined on weekly n monthly charts! Not daily or lower so to see traders forecasted a reversal large pips set ups again the trend on hr charts when the higher time frame hadn’t supported that is scary… good luck with doing that weird stuff long term.
The short will have to come above price as a potential double top or it’s variants That’s the only way distribution can occur to have enough orders to retrace all the residue buying.
Plus it only make sense that buyer will retest this wick here ..
The best set up isn’t to buy or short but is to wait to short… n see how price maneuver itself up for the retest
Gl
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.
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.