*SMT = Smart Money Theory. See Related Idea for Tuorial/Explaination on Smart Money
Keeping to the principles of SMT, There are two Redeliver-Rebalances below current market price. A redliver Rebalance is like a fair value gap except where the Wicks don't touch, a presiding wick outreaches a proceeding candle. These act as imbalances i which price seeks. We...
- Essentially EC has a long retracement to make and the market is in a severely over sold condition.
- So I believe these EQL's being spiked and price reversing to the upside sharply is sign of a sponsorship candle I believe price would return to so the level can be satisfied.
- There is also a divergence is price, current price action's trend doesn't correlate...
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see comment for lltc comparison
