It's just an opinion, please don't consider it as a basis for buying and selling If I see a reaction, I quickly reduce my SL
August Trend Analysis - Market Behaviour C-T Samurai (Katana trend lines set as area) 33% Long in red phase VS 77% Short in red phase ... but when price leaving red area: 92% Long ;-) More analysis in our community channels linked below.
What we have here on the daily chart: - Those highs sitting right below the daily block - The daily breaker which should now act as temporary support So I'm thinking the Samurai will initiate a fake breakout of that inverse head and shoulders we're making, take those highs (loads of stops resting there by now), and proceed to sell off. Maybe aim for the red...
The Samurai are planning a surprise attack on Dixie. So we have: - A few highs resting just below a significant breaker (or just plain broken support that should now be resistance), creating a liquidity pool just above them (everyone who went short around this level now probably has their stops above that high. - Void left by the inefficient move down -...
Daily view: I can see a perfect .705 retracement on the daily timeframe, into a bullish orderblock (image below): On the lower timeframe (1H), we've broken past the resistance that was holding us back and now we should find support on it before taking on some more highs. Target for now looks like that daily resistance level which would also fill the void...