Weiss Wave is a clear indicator that shows the demand domination.
In the other hand, in the current m30 range (white color) there is no AR breakout, that indicates there is no supply contribution to balance the price range.
We are now in a momentum to confirm a BUEC from the main H4 range (green color)
Looking forward to see a profitable ef BINANCE:BTCUSDT fect!
Now the market is in range, time to follow the footprints to determinate which range is under development (Distirbution or Re-Acumulation)
Here the current TA:
Nice Demand reaction in the VAL test, after a shakeout there was no supply follow through. Re-acumulation gets some sense now, will see.
It has been confirmed the demand control over the current price range. The market is now testing the VAH as a potential BUEC.
We would like to see a SOS bar to confirm the BUEX and the range as a re-acumulation.
SOS bar and BUEC got confirmed, time to see the effect.. price discovery again so I warn about the high volatility!
It has taken a while to see the effect, but here it is finally!
The trade still open, there is no strong signs of distribution yet.
Happy new year to all you.
We reached around 50% profit since I have post my trade.
The week has started with a high volatility and several shakeouts, big volumes and price discovery is perfect cocktel for that.. but the trade still open!!
Where the market is now? Well we are in range, current m30 value area:
Again the demand reacted in the VAL the distribution scenario seems to get weak each candle again.. Let see how the minor range (green background) ends, we would like to see a SOS bar testing the BC (VAH) again to see the supply reaction over there.
Well, it is clear there was a SOW from demand lately, so I start to think about close my position.. but not yet, we would like to see the confirmation of the current m30 distribution range.
There has been a demand reaction just at the V Composite VPOC, good for the opened trade.
Time to re-test the AR and see how supply reacts up there.