BAT/USDT
1D/4H
Learnt an important lesson here in understanding of liquidity and market manipulation.
My initial analysis of BAT correctly predicted the next move into the target area of resistance. This was a great call for a spot buy around the price level $0.67, it has a long way to go and is a great fundamentally strong coin. The volume on this daily candle shows the largest since march near the top. The long idea posted was stopped out for break even after initially heading towards the target before being triggered after the correction we had caused a lot of volatility.
Looking at the analysis now, price corrected into the golden fib and 4H horizontal demand zone, formed a series of bullish triangles to induce buyers into the market and position themselves long from this area, a false breakout then occurred before the sharp move down liquidating longs and heading into the 4H demand from the origin of the breakout as shown on the chart. This collected any unmitigated orders in the zone before creating an imbalance and causing an explosive move to the upside.
Using the fixed volume profile we can see areas of volume from the high volume nodes across an area of price action, using supply and demand we can identify the candle where the order block of unmitigated orders is located and back check it against the volume profile.
We rejected off the resistance level and major downtrend resistance, watching for a breakout of major downtrend resistance and hoping to add some of this to my portfolio on the corrective wave and retest.
1D/4H
Learnt an important lesson here in understanding of liquidity and market manipulation.
My initial analysis of BAT correctly predicted the next move into the target area of resistance. This was a great call for a spot buy around the price level $0.67, it has a long way to go and is a great fundamentally strong coin. The volume on this daily candle shows the largest since march near the top. The long idea posted was stopped out for break even after initially heading towards the target before being triggered after the correction we had caused a lot of volatility.
Looking at the analysis now, price corrected into the golden fib and 4H horizontal demand zone, formed a series of bullish triangles to induce buyers into the market and position themselves long from this area, a false breakout then occurred before the sharp move down liquidating longs and heading into the 4H demand from the origin of the breakout as shown on the chart. This collected any unmitigated orders in the zone before creating an imbalance and causing an explosive move to the upside.
Using the fixed volume profile we can see areas of volume from the high volume nodes across an area of price action, using supply and demand we can identify the candle where the order block of unmitigated orders is located and back check it against the volume profile.
We rejected off the resistance level and major downtrend resistance, watching for a breakout of major downtrend resistance and hoping to add some of this to my portfolio on the corrective wave and retest.
