Smelling 💩, lot of things over the bull's heads - LDTP #11.4
Let's do the point ! // Update #11.4
Perfect prediction yesterday, nice deep retest of the demand, reaction without buying volumes == consolidation into (ongoing) fall back to the primary support (yellow line).
So plan stay the same, we will target for the support and see on it multiples scenarios :
For this last case, I think it's time to take a larger picture and see how much sellers level there is now to break for buyers. If we do the point, to expect a daily continuation there is now : two support possibly now acting as resistance if pullback on them ; four already tested and rejected levels ; two supply area never retested and a new resistance level ; without forget the daily primary resistance which is the global resistance and which encompasses all these. So that start to make a lot, if we add institutionnals repositionning or covering, more retailers leveraged positions getting rekt, all this makes the sky darken. I don't think we can speak anymore of a bull breakout for the daily resistance (except news -> see "NB" at the end), the best chance to see a bull continuation is maybe now lateralization to absorb sellers on the length (but it's not the actual dynamic).
In the case we break downward, we can start to think to the wyckoff pattern I talked about nearly one month ago from now ...
Just want to add that actually we are on the POC of a little range which could create a consolidation to the purple support, becoming resistance, before to see the test of the support.
Like, follow or comment* if you like, I need it to continue !
NB : Take care to the FOMC minute tonight, if they speak again of acceleration of the interest rate increase, it could create a panic sell on speculative market and so provoke the breakout, in the other case, if it's like always an investor's ass licking it could create a small breath with a panic buy as consolidation but not representative of a real dynamic of market if it's not followed on longer timeframe. All this to say to take care of volatility after it.
Perfect prediction yesterday, nice deep retest of the demand, reaction without buying volumes == consolidation into (ongoing) fall back to the primary support (yellow line).
So plan stay the same, we will target for the support and see on it multiples scenarios :
- Breakout and continuation of the sell off and so why not the 10% move I called 4 days ago. (I don't believe in it, except news -> see "NB" at the end)
- No buyers and so a reaction movement of consolidation before to see a retest in the next days. (Most probability for me)
- Buyers defend it and so we will target for a new retest of the resistance
For this last case, I think it's time to take a larger picture and see how much sellers level there is now to break for buyers. If we do the point, to expect a daily continuation there is now : two support possibly now acting as resistance if pullback on them ; four already tested and rejected levels ; two supply area never retested and a new resistance level ; without forget the daily primary resistance which is the global resistance and which encompasses all these. So that start to make a lot, if we add institutionnals repositionning or covering, more retailers leveraged positions getting rekt, all this makes the sky darken. I don't think we can speak anymore of a bull breakout for the daily resistance (except news -> see "NB" at the end), the best chance to see a bull continuation is maybe now lateralization to absorb sellers on the length (but it's not the actual dynamic).
In the case we break downward, we can start to think to the wyckoff pattern I talked about nearly one month ago from now ...
Just want to add that actually we are on the POC of a little range which could create a consolidation to the purple support, becoming resistance, before to see the test of the support.
Like, follow or comment* if you like, I need it to continue !
NB : Take care to the FOMC minute tonight, if they speak again of acceleration of the interest rate increase, it could create a panic sell on speculative market and so provoke the breakout, in the other case, if it's like always an investor's ass licking it could create a small breath with a panic buy as consolidation but not representative of a real dynamic of market if it's not followed on longer timeframe. All this to say to take care of volatility after it.
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