In the 30 minute cart there is ICT Cycle of AMD. The market initially went through an Accumulation Phase, where institutional players built positions at lower prices. Than there comes the Manipulation Phase, where liquidity was grabbed through stop hunts and false breakouts at both sides.
Currently, price is consolidating, making a possible Distribution Phase. If sellers take control, a breakdown below 2894 could confirm sell side move. A confirmed break below support will signal distribution and further downside movement.
Trade Plan:
Entry: Wait for a clear break of the consolidation range i.e below 2894.
Stop Loss: Above the recent highs to avoid being caught in further manipulation.
Currently, price is consolidating, making a possible Distribution Phase. If sellers take control, a breakdown below 2894 could confirm sell side move. A confirmed break below support will signal distribution and further downside movement.
Trade Plan:
Entry: Wait for a clear break of the consolidation range i.e below 2894.
Stop Loss: Above the recent highs to avoid being caught in further manipulation.
Trade active
As we discussed earlier price has confirmed the expected move from the distribution phase. The market is now following the expected downtrend. Keep in mind that an FVG us also formed near 2896 zone so may fall bac to retest it
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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.