Following up on my idea yesterday Look at that~! Set up was BEAUTIFUL yesterday with shorts and bears over extended. And where do they find liquidity after the highs are broken? Nowhere but above 4011.
We are are pushing up into new yearly highs. Price has nibbled through a few times from what it looks like from the three push pattern. It was good for a 150 pip drop. Sellers who took their profits are good. What about the sellers who anticipated a further drop and held on? They are in serious heat right now and trailing/break even stops have been hit. Now we...
I see a lot of accumulated volume underneath large timeframe breakout levels.There are weekly breakouts,monthly,and the year being pushed down. Sellers are chasing it down and it has already broken past my first 2 levels. In the coming days or weeks, I'm looking for price to hit the rest of my levels before reversing to hit the chasers and breakouts. FX:AUDUSD
This is a similar setup to GBP/USD. I wouldn't expect a deep dig underneath the buyzone.Maybe accumulation and a stops hit below it before reversing. When I'm calling tops and bottoms, that don't mean that price will trend up or down for eternity from there. These are setups I'm confident with to add size into or have a wider stop. I don't know what the market...
Price tried to break lower but got reversed & broke higher. This has trapped a bunch of seller. When they exit, it'll create a bullish trade idea. We can trade along!