On the 8h chart we can see this huge distribution range. Remember market makers never make this easy....if the retail crowd is overwhelmingly bearish then various tactics will be deployed to target stops. In this example I would expect a retracement higher first. Thus traders who went short with the breakout lower will bail out, and the bullish intraday traders will afterwards be the victims, as they all raise their stops in ladder-like fashion, not expecting a sudden drop.
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.
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.