By tuesday 25th or wednesday otherwise its still accumulationg orders
Prediction/projection:
range/consolidation followed by a fake breakout below to the demand zone (purple box) resulting in a stop hunt liquidity grab printing a W formation.
Outcome:
should mean a long sustained run up, POI supply zone (purple box) Liquidity pool this zone has held sinnce first being tested on 6th april & its been tested 6 times already.
Retail traders could see this as a great place for sell limits, meaning pending orders to be liquidated are there.
This time it should break
TP's above supply zone are the banks round numbers
1.10000
1.11000
1.12000
Possibly in smaller segments eg 1.1050
Prediction/projection:
range/consolidation followed by a fake breakout below to the demand zone (purple box) resulting in a stop hunt liquidity grab printing a W formation.
Outcome:
should mean a long sustained run up, POI supply zone (purple box) Liquidity pool this zone has held sinnce first being tested on 6th april & its been tested 6 times already.
Retail traders could see this as a great place for sell limits, meaning pending orders to be liquidated are there.
This time it should break
TP's above supply zone are the banks round numbers
1.10000
1.11000
1.12000
Possibly in smaller segments eg 1.1050
Comment:
Wait for that consolidation + W formation + candlestick confirmation (either a spikey hammer candlestick or an engulfing formation.
untill then wait
untill then wait
Comment:
Look at the 13th April - absolute textbook! consolidation + liquidity grab below the previous low + W formation = run up boom!
Of course a breakout for sure will show but its structure is showing signs of change of character.