CNX over key pivot to reach ATHsCNX has shown great strength recently and broke over $23.33 pivot to hit new ATHs yesterday; volume has also increased, having shown volume dry up during the accumulation phase. The U/D ratio on this ticker is also good and suggestive of institutions buying this stock up.
Institutional
Institutional Traders Turned BearishCoinbase premium has significantly dropped to the negative territory. With more institutional traders on Coinbase and more retail traders on Binance, the Coinbase premium over Binance’s BTC price has been a good gage of the institutional trader sentiments. Institutional traders have been willingly paying premiums throughout the past 2 years of crypto market boom and have just recently started trading at discounts. This is a sign that institutional traders are more bearish than retail traders in the current market.
While we could have relief rallies in the meantime, the return of institutional faith in the market is needed for any significant uptrend. In both the 2019 and Covid bottoms, the Coinbase premium turned significantly positive, which we have a long way from in the current market.
Is BTCUSD ready to go long?
Good day guys
Here is another trade idea.
As you can see the circle marked in orange above, represents reversal with a high volume. And blue circle and the end of the consolidation, indicate a low volume of buyers, meaning sellers pushing maybe price down, where I think the institution's orders are waiting to trigger a long trade
We have to wait for what happens and the next price reversal is how the volume reacts, high or low?
Trade well
NZDUSD Buy Entry TypeWe have broken the HH, the most recent structure and
mitigates the marked area and returns to the downside.
We note that the price has made several
Complex Pullbacks (CPP) and refers to the 2h OB.
One of the options that the price can make when reaching the OB is:
1- Complete it at 50% or 100% of the OB and change direction upwards.
2- Break the HL and continue down.
If the 1st option is met, we will search for TP1 and TP2.
EURNZD Sell Entry TypeThe price structure remains bearish, and
respect the LH of the Points of Interest (POI),
so we will follow the downtrend in
looking for sales until you reach a possible
weekly reversal zone (1W).
As we see before the (Break of Structure) , the
price accumulates in a 4-5 day range and breaks
downward structure and creates a liquidity zone
which will be broken by the (Market Makers) .
As always, when I see the liquidity zones, I look for
Order Blocks positioned above the zone
of liquidity, and take less risk of hitting my Stop Loss (SL) .
EURJPY Possible Bearish CorrectionThe weekly structure is bullish, the price has
reacted perfectly on the Points of Interest (POI)
marked. Now that the price is accumulating and
showing upward weakness, we look for possible
areas where the price could reverse and make a
correction or structure change.
1st Zone.
This zone has previously been mitigated by
showing price rejections. If the OB has previously
been mitigated twice, that Offer zone will become
Liquidity, so 100% of the OB will have to be
completely mitigated or exceed the zone.
2nd Zone.
The marked area is above the 1st OB , which is
part of the liquidity. This Offer zone has not been
mitigated + it is the 1st zone where the price has
reversed and respected the zones of interest
towards the downside.