BMYWin
Long

Is it a Push Down To Buy?

FX:UKOIL   Crude Oil (Brent)
277 4 6
General speaking we view price up and volume increase, and price down volume drop is normal. What observe that price drop but volume increased is another story. Is it a PDTB? Maybe Yes. Last week we expect the price might drop back to 47.31. Therefore, when price drop down lower than 47.31, we watch the price will go lower to around 45.30. Price test 2 time around this level, and was unable to drop it down. Then we think it might be a push down to buy by major player. Considering about this, we reenter our long position again. We set our stop loss around 300 MA.
Dear Sir, what is your estimated target?
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Dear BMYWin, very interesting view, thanks! Have you encountered this pattern before?
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BMYWin copydrbij
Dear Mr. CopyDrBij,

Push down to buy or Rise High to sell is a very common practice by major player. Some time it is a proof when we observe the big volume transaction flow into the market, but unable to push price lower, and rise price higher. General speaking it will form and W, or U bottom, or n/M top out.
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Thanks! And congratz on the nice entry :)
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