There is still a strong uptrend and strength in the immediate background, however it seems the composite operators (smart money) intend to push prices lower to get a cheaper re-accumulation zone
1. Daily Chart - Pullback with Green Pentagon - 2 No Supply (NS) Signal at the new support - Trading close with support with low volume 2. Weekly Chart - Uptrending since high volume Green Pentagon - No major weakness Hit the "LIKE" button to support us :) Disclaimer This information only serves as reference information and does not constitute a buy or sell...
Here I am trying an experiment in a 15M chart, if VSA sign of strength and weekness can show me a way to deal with market. I will appreciate if somebody help me here in this issue and topic.
- We went Long following the US Soybean Oil price movement. - Place our Buy Stop @ 3440 with TP @ 3450 (10pts) and SL @ 3434 (6pts). - Hit TP within less than 6 mins when our Entry triggered.
The Last Point of Support seems to have occurred on the 1hr chart of BTC above the most recent accumulation channel Next major resistance is at 19500
1. High volume Line Change - Great effort bar to monitor for potential support and resistance 2. Shakeout area - Removal of weak-hand holders 3. Shakeout completed with high volume - Confirmation of Strength signal with higher volume - NS at the previous support (low of Line Change) Looking for low risk entry near low of NS bar Hit the "LIKE" button to support...
The re-accumulation is a sign the recent retrace in BTC is short-lived Wait for LPS as confirmation before a additional long entry
This is cool, the last minor distribution range and the newly forming re-accumulation range in BTC as back to back Looking for a Jumping Across the Creek (JAC) and/or Last Point of Support (LPS) next to break the 19700 resistance level
Expecting shorts to be in control in the next couple days at least down to 18k It appears to be a relatively small correction, the major, overall trend is still up
Re-Accumulation Beginning in BTC
OANDA:XAUUSD Trade what you see, not what you feel/think
Once price retraces to the top of the accumulation zone (LPS) and the test confirmation is successful BTC should bounce to 20000
The inability of price to break the 18900 level suggests a sharp move back down to at least 18000 is likely If 18000 doesn't hold the next stop is 17k