I would imagine the pros would need a large of amount of liquidity to get their orders filled, and the obvious level seems to be a sweep of the neckline into low $33ks.
Comment:
I think my execution of this trade was pretty good. My thesis was that price heads towards pools of liquidity. Bids got filled but my management of the trade was poor. I was monitoring it since 7am in the morning, it chopped around that nPOC for most of the day actually. I cut the trade pretty early a little bit better than breakeven.
I think that is fine though. The short squeeze at the end of the day into $34.9k, I would say, was a low probability scenario and waiting on that to happen would be too risky.
I think that is fine though. The short squeeze at the end of the day into $34.9k, I would say, was a low probability scenario and waiting on that to happen would be too risky.
Comment:
Comment:
Market profile looks very blocky, pretty indecisive day. This is what you call a neutral day. Buyers and sellers trade within a range with a pretty even distribution. Interesting to monitor where price takes off from here. Considering price towards EOD is at VAH, we could see some upside into the evening.
Was hoping for more of a bounce but looks like price is rotating around $33.2k and there's a lack of aggressive buyers. Got out at $33,275 and will monitor for further downside.