The model 2 on SUI i posted on Tuesday turned into an possible model 1. A breakdown from this area would confirm it, but i would look at what BTC is doing and the upcoming weekend range.
This could end up as an model 1 if BTC can get one more deviation of the low and close the daily candle above the red line. It's also possible that the low is in already. In that case i would look for an model 2, but to tell that the range has to develop more. There is a cance that BTC is already distributing to make a new low, so i would look out for what...
The low reached yesterday could be the weekly/daily cycle low, but there is no confirmation at this time. If this isn't the bottom, it should happen sometime next week. Should BTC get a swing out of here and undercut the low again, the next weekly cycle would be considered as failed, meaning further downside is likely. If not, I think that path on the chart could...
After creating extreme liquidity above today's low, this demand zone could be a good entry for later. This model 2 would only be correct if the range high does not get taken out before we got a third tap. If this plays out as planned i look for a BOS down there. Coming down one more time for a model 1 inside the deviation limit would also be fine.
What if we saw a massive manipulation event next week? This would make sense since we are right in the window of a weekly cycle low. If it comes, it should come next week, so the weekly candle that closes today will not be affected by it. Previously, we could manipulate the current range by taking out the extreme points, then dumping the price, creating a PO3,...
Since we are putting in all these higher lows, this could be a good entry for a longterm trade. With the CME close below us, it would be really bullish if we can create a CME gap today. The next 4h candle should give more clarity, but below us is also good looking demand, maybe we go down there.
Absolutely beautiful PO3 today at New York open. They even distributed in a model 1, which gave me a really nice entry.
This could be a model 1 distribution, but its to early to tell. Right above us is an 1 min supply zone and the golden pocket. The push above the last week high invalidated a possible model 1 accumulation, but it would still make sense to come lower again since the weekly cycle low should come next week. There is also this major trendline which would freak everyone...
There is a potential gold distribution with a price target of at least the range low. A rejection from this supply zone could confirm a model 2 and another deviation of the highs (if no higher time frame candles close above the deviation limit) could confirm a model 1. The deviation should occur at approximately the same time interval, which would be Thursday of next week.
There are again signs of distribution, like the last 2 days. In my opinion it's way more likely to push up and take out all the liquidity, but we will see how it plays out.
There just got another distribution model created, right into the supply from yesterday. one of these demand zones need to hold for more upside.
After seeing a beautiful model 2 into my target zone, we now came into the 5min demand with some kind of accumulation. My next target if the demand holds is the liquidity above us and maybe even the supply at 104.000$.
If this plays out we would first sweep the extreme liquidity from last week and after that push up to take out all the weekend liquidity. Below the extreme liquidity is a 5min demand zone, which could be a good entry.
After spending half of the month below the monthly open, I think it's time to have some price action above 102,000, otherwise the candle would look kind of weird. It will be interesting to see how this matches up with my cycle count, as the next weekly and daily cycle low should occur in around 11 days.
We could be having a weekend distribution going into the start of the new week. We would either just take out the saturday high for a model 2 or we deviate above into the red box for a model 1. My target is the 5min demand zone from Wednesday.
We are building a model 1 while coming into the supply zone from last year, so i think this would be a good place to look for shorts.
After deviating over and over again i think it's possible that the model 1 can finally bring us to the range high, especially after taking out the extreme liquidity. I was wrong with this before, but now i think we have spend enough time.
I would love to see a PO3 as the last move before the weekly cycle low. That would be three great trades, but let's see what happens.