This a continuation and update to previous analysis. Still on for my 600 odd pips SHORT idea?
Still not too late! "Woo-hoo big winter SELL blow out!" (a line from Frozen!)
This is the beauty of Swing Trade Ideas which are best achieved in a market that is most liquid and volatile.
I have a twist for you here but it's good news it TIME to grab some shorts on an upswing! We want to sell when there is buying?
Check out the chart it's self explanatory and how I analyse from prior posts no point repeating the why and the how now it's time to say it as it is and what's next and mix things up now.
Asia Session took out some liquidity. The retail herd runs to short seeing such red, plus herd news.
Yes but WAIT! I SEE YOU! There is a weekend sell side liquidity gap around 11770-11755. IMBALANCE in volume profile looks too sudden.
IMBALANCE is viewable on the cross correlated markets too!
Q. No way Nas can shift UP 100 points from here? (at time of identification of gap have you read bearish reported news re China?)
A. Oh but it can, market rebalances. I'm 100% sure it will before US session ... watch. News is garbage stick to facts the volume profiles.
Q. If you are that sure Dips007 why don't you trade it up? Is it tradable then?
A. Of course it is.. it is a retest but for me no added value BECAUSE of my trading plan that is for ME. I already seen bigger picture and am already in trade position before the herd and already paid the price for having got in at that stage by drawdown.
It's an intraday set up and I don't have time to keep watching market. It could take all of Monday or just 1 hour.
I Swing trade to specific targets over longer time period having waited weeks for my entry I was already in position from the last High I will TP some now and add more on at the fill I want trade with the over macro trend that the market has already proved me correct. I can't grab every single pip even if I'm right exposes too much risk and involves even more trade management for which I care not to spend the time over!
This is called MANAGING your trade mitigating risk not being greedy, knowing what you want from market and applying Balance to your life.
Trade active
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After today's profile is built we will have more signs of weakness to observe and getting ready for tomorrow = big news data day with JP talk we gonna know whether the 'hotstepper' is HERE!!
You will see in yesterday's 4hr chart we went to fill the gap for 'reload' and that is EXACTLY what I did (trade with market short when there are buyers!) a nice rejection! Nice to see but the war is not over yet - Swing trades have mini price wars! You have to be tough mentally .. this morning getting another updrift more opportunity to short but I'm sufficiently allocated now.
POC2 was expected to bounce it's a strong area in the overall weekly profile (I just didn't have time to risk not adding more allocations at the 100% Gap point. Today who is to know how much it will bounce from POC 2 for another reload and I'm busy cant keep watching... and am fully allocated.