Hi, this is my take on BTCUSD
ON DAILY STRUCTURE:
1. Price keep making swing high and swing low.
2. There are no sign or breaking the uptrend structure YET
Possibilities
1. Right now if price break the zone, an long term pullback is established and QM pattern will be formed at the top. There will be opportunity to buy but must get out of the market because the...
Quasimodo pattern. A reversal pattern.
Find your QM line. From there find your MPL and you have established you SL.
TP? Inverse QM Of the fakeout.
Why this is fakeout? its a kind of manipulation or market behaviour that can be taken advantages by big traders since you can see the price is quite bullish there. Usually can be seen just under the QML (the blue...
Short Entry at supply zone
Tg: Demand zone
Reason for short :A supply zone is established on a momentum trend of a pullback of major structure.
LTF uptrend is engulfed , signaling weakness on uptrend.
Completing the QM pattern.
