Typical Pattern I keep an eye out for.
Updated
This move is a very large attempt to force all the longs/shorts to be liquidated. Moving past key resistances. Faking the reversal signal, and pushing further down to punish those who are impatient.
Seeing how the waves down are becoming less severe, shows strong buyers stepping in and sellers tiring out.
I will not be surprised for another push attempt down in order to confirm the bottom is in for them.
Seeing how the waves down are becoming less severe, shows strong buyers stepping in and sellers tiring out.
I will not be surprised for another push attempt down in order to confirm the bottom is in for them.
Note
For a better look on how it plays out and appears on the 1 minute chart.
Note
Now the next step, is to reenter/confirm breakout of my original support/resistance/accumulation zone I had marked on my previous charts.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.