"Trader's View" - eBook by Zeppelin
This entire movement since December 22nd within that current demand zone is about 13 days of impulsive liquidity that is setting up for proper price action as a corrective move. I'll be watching closely for 9AM openings for the rest of the week to see if…
Tapped into that $140 range after an expected consolidation, while further continuation of a bullish trend on the hourly timeframes.
Also seeing the break above $137 as stated before and creating HH's after retesting for HL's provides a guide for next price action on future HL's as support.
Given that analysis, I'll be looking for more HL retests for proper confirmation on taking longs to reach as high as the $170 range. Generally I want to avoid shorting at impulsive resistance taps, unless it was at the appropriate time of day + market opening time with confirmation.
This would mean we'd short after HH retests during a bulltrend; not recommended but if you play your cards right, you could catch them on the way down to a proper support since the trend is shifting the entire sentiment bullish.
A strong linear regression that appears as a bulltrend on the hourly timeframes is a good sign if we want to see a proper sentiment shift for the daily timeframes.
Also seeing the break above $137 as stated before and creating HH's after retesting for HL's provides a guide for next price action on future HL's as support.
Given that analysis, I'll be looking for more HL retests for proper confirmation on taking longs to reach as high as the $170 range. Generally I want to avoid shorting at impulsive resistance taps, unless it was at the appropriate time of day + market opening time with confirmation.
This would mean we'd short after HH retests during a bulltrend; not recommended but if you play your cards right, you could catch them on the way down to a proper support since the trend is shifting the entire sentiment bullish.
A strong linear regression that appears as a bulltrend on the hourly timeframes is a good sign if we want to see a proper sentiment shift for the daily timeframes.
"Trader's View" - eBook by Zeppelin
This entire movement since December 22nd within that current demand zone is about 13 days of impulsive liquidity that is setting up for proper price action as a corrective move. I'll be watching closely for 9AM openings for the rest of the week to see if…
Now you see why TA exists, and clearly seems like we're continuing that overall bearish sentiment I've mentioned earlier.
Obvious breakout from a linear regression and tapping into $126 feels like we may see that $119 price that I mentioned as well.
Obvious breakout from a linear regression and tapping into $126 feels like we may see that $119 price that I mentioned as well.
"Trader's View" - eBook by Zeppelin
I see hardly any large price action indicating a confirmed bulltrend reversal, at least not yet (which would read as retail traders driving up price for any reason), and this can be taken as liquidity for the next strong retest of resistance. I don't usually…
As stated, higher timeframe read bearish, which is what we're seeing now as a reflection of this analysis on the 4th of this month, and followed by impulsive price action, including the liquidation.
- "If it reads bearish for me on higher timeframes, while the lower timeframe show bullish, I take it as impulsive price action and the correction would be the liquidation afterwards - that's confirmation of an overall bearish sentiment (in my opinion at least).
I try to avoid longing supports in an overall bearish sentiment, unless there's confirmation of a complete reversal on the higher timeframes for a true bulltrend + bullish sentiment. They have to align entirely so it's less noise and better understanding for reasoning."
- "If it reads bearish for me on higher timeframes, while the lower timeframe show bullish, I take it as impulsive price action and the correction would be the liquidation afterwards - that's confirmation of an overall bearish sentiment (in my opinion at least).
I try to avoid longing supports in an overall bearish sentiment, unless there's confirmation of a complete reversal on the higher timeframes for a true bulltrend + bullish sentiment. They have to align entirely so it's less noise and better understanding for reasoning."