As per SOP.
Caveat: 1 hour depicts pretty significant supply pressure. lookng for a nice pullback. However if it runs back up to test resistance and the volume returns, will be looking for.an upthrust/fake out to maybe go counter trend
Otherwise, still an uptrend until confirmed otherwise. Allow room for SM profit taking and re-accumulation activity at key S/R, FIB and EMA (depending on your tools). . and the 15 min RSI as an alert has been very reliable. (RSI set at 7, oversold/overbought at 25 and 75 respectively),
Yon can see the 15 min RSI and how its served its purpose as a trigger historically. Stay away from the median (middle of TR is bad place to enter) when looking for entry. Median activity is generally due to ongoing accumulation or distribution and its best to allow this to work itself out. In Wyckoff technique I believe its phase B (refer to Wyckoff accumulation schematics). Phase B is the period where supply/demand imbalances and where weak hands are shaken. If you ever entered a trade and it didn't go anywhere and you sat there sweating. its very possible you were in phase B.... Stick to the edges. Support/resistance, oversold/overbought areas etc.
You don't have to believe me.... just look at the volume in your chart. It proves itself over and over.
Training **
Caveat: 1 hour depicts pretty significant supply pressure. lookng for a nice pullback. However if it runs back up to test resistance and the volume returns, will be looking for.an upthrust/fake out to maybe go counter trend
Otherwise, still an uptrend until confirmed otherwise. Allow room for SM profit taking and re-accumulation activity at key S/R, FIB and EMA (depending on your tools). . and the 15 min RSI as an alert has been very reliable. (RSI set at 7, oversold/overbought at 25 and 75 respectively),
Yon can see the 15 min RSI and how its served its purpose as a trigger historically. Stay away from the median (middle of TR is bad place to enter) when looking for entry. Median activity is generally due to ongoing accumulation or distribution and its best to allow this to work itself out. In Wyckoff technique I believe its phase B (refer to Wyckoff accumulation schematics). Phase B is the period where supply/demand imbalances and where weak hands are shaken. If you ever entered a trade and it didn't go anywhere and you sat there sweating. its very possible you were in phase B.... Stick to the edges. Support/resistance, oversold/overbought areas etc.
You don't have to believe me.... just look at the volume in your chart. It proves itself over and over.
Training **