Look more promising as the days pass from our last few post we believe there's more upside n the move dwn was for two 3 reason
1 highs was broken
When major levels are broken markets always retraces back to pervious area of liquidity
The move up here broken 2 historical highs if the market didn't retrace it'll fail
2 after a long move up weak holders entry the market
Weaker holders are the retail traders -who want to win but can't manage losing ,who are scared of volatility so they close out wining trades when u supposed to run ur wining. They trade with emotions so they buy high n sell cheap just cus price is.moving
So weaker holder must be shaking out n convinced to do the opposite n that to short the market giving more room for them to buy it
3
thus we want to see the market manipulated ppl hence the high tail here are from late weak buyers now we want to see the manipulation of the sellers at our zone of interest n here is where we expect the bulls to carry on
It took me time to understand that an overbought market doesn't mean reversal I'd think this market set itself up well to break the resistance mentioned n it only make sense for it to challenge to higher one that it hadn't restest u can look at the month view post to see which high
As we truly understand Hows these markets work the resources used n we know there's always an agenda in a move
Even if the market don't seem out this high this time around n that's possible but I doubt so
There's no orderblock made against the uptrend
The current high here is clusters meaning a weak high thus thus increases the bullish outcome at least to knock it out
We are forming a Wolfe wave pattern in this channel outside of that these type of channels are bullish in nature
1 highs was broken
When major levels are broken markets always retraces back to pervious area of liquidity
The move up here broken 2 historical highs if the market didn't retrace it'll fail
2 after a long move up weak holders entry the market
Weaker holders are the retail traders -who want to win but can't manage losing ,who are scared of volatility so they close out wining trades when u supposed to run ur wining. They trade with emotions so they buy high n sell cheap just cus price is.moving
So weaker holder must be shaking out n convinced to do the opposite n that to short the market giving more room for them to buy it
3
thus we want to see the market manipulated ppl hence the high tail here are from late weak buyers now we want to see the manipulation of the sellers at our zone of interest n here is where we expect the bulls to carry on
It took me time to understand that an overbought market doesn't mean reversal I'd think this market set itself up well to break the resistance mentioned n it only make sense for it to challenge to higher one that it hadn't restest u can look at the month view post to see which high
As we truly understand Hows these markets work the resources used n we know there's always an agenda in a move
Even if the market don't seem out this high this time around n that's possible but I doubt so
There's no orderblock made against the uptrend
The current high here is clusters meaning a weak high thus thus increases the bullish outcome at least to knock it out
We are forming a Wolfe wave pattern in this channel outside of that these type of channels are bullish in nature