clear uptrend, with a resistance turned support (confirmed)=BUY

1. a small entry of sellers followed by a strong sell off with
an inability of buyers to really do much of anything, resulting in a
lack of back and forth aka structure
2. buyers enter and slowly begin building momentum, the lack of
volitility for me signals a disinterest by sellers rather than buyers
coming in and taking out alot of selling volume
3. switch and test, ' Shelf ' of support seems to be established
* what do I think is going to happen ?
* this chart is very interesting in that there are really only 3 interesting
areas , the sell off, the uptrend, and now the switch and test,
which tested successfully I might add
* this shelf of support alongside the defeat of the strong sellers from #1
signals a ton of space upward, a clear buy signal for me
* once again I am wary , if there is this much conviction, usually price
likes to whip the other way , luckily we have our handy dandy zones
* we have a 71% follow through rate using the chaos theory indicator, if a candle closes, to the upside , to reach the next orange zone, so we will hope to not get wicked out and place a stop buy order.
*expecting high volitility and big buyer interest, a buy stop is appropriate
an inability of buyers to really do much of anything, resulting in a
lack of back and forth aka structure
2. buyers enter and slowly begin building momentum, the lack of
volitility for me signals a disinterest by sellers rather than buyers
coming in and taking out alot of selling volume
3. switch and test, ' Shelf ' of support seems to be established
* what do I think is going to happen ?
* this chart is very interesting in that there are really only 3 interesting
areas , the sell off, the uptrend, and now the switch and test,
which tested successfully I might add
* this shelf of support alongside the defeat of the strong sellers from #1
signals a ton of space upward, a clear buy signal for me
* once again I am wary , if there is this much conviction, usually price
likes to whip the other way , luckily we have our handy dandy zones
* we have a 71% follow through rate using the chaos theory indicator, if a candle closes, to the upside , to reach the next orange zone, so we will hope to not get wicked out and place a stop buy order.
*expecting high volitility and big buyer interest, a buy stop is appropriate
for trading mentorship and community, message me on telegram : jacesabr_real
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
for trading mentorship and community, message me on telegram : jacesabr_real
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.