small pullback to resistance, then continue to support=SELL

18 Ağu

1. the genesis of the buyers, a slow running flow,
we switch into high volitlity marked by a lack
of structure ( back and forth ), followed by a
repeat of the same pattern up till we reach 2

2. strong volitlity down, little to no pullback,
when we have the gap up, that strong push means strong
buyer interest, orders were still there and buyers made
a small pullback, we then continue down

* what do I think will happen

* I really think we going to come down to #1 ,
the birthplace of the local buyers, BUT I think we will go
back up a little, to the area of support that was used
as part of the consolidation to propel buyers up, logically
there will be hard resistance there. I want to do a stop order
because I feel due to high volitlity it will go there then sharply
continue down to #1 , at which point alot of things can happen,

* I will say that we have MFI and rsi overbought, but these overbought and sold
can be safely ignored during times of high volitlity, such as current

* over the past 2,500 bars, if a candle closed below a zone, it has a 73% chance to reach the next zone rather than being invalidated, this is a great percentage for confidence, using this we will have a limit order for sell

* if we hit TP in this zone and no re-test of resistance, I would invalidate this idea and wait for further data to see what may be going on next

19 Ağu

Not

initially I said stop order accidently, I meant a limit order, if you notice I did say limit order the second time when I mentioned the order type, which would activate during the pullback and give a superior RR , which would have worked