strong move up encounters area of sell off *suspected* :pullback1-> 2 :
- we switch from a smooth running flow into a high
volitility uptrend, with little to no structure showing
an overwhelming buyer interest
2: sellers step in, we see the first bearish bars, and the first
lower low in terms of a bar closing below the low of the previous
* what do I think will happen
* an interesting phenomenon is occuring , after a period of high volitility,
there is often a slowdown and calming period , this is obvious as
no single party can expend themselves forever
*the question is, has the buyers really expended themselves as much
as they wanted to ? or is this just a brief profit take, from which
buyers will enter at the 'cheaper' prices.
*it's hard to know, but in my experience, a downtrend to the gap or
even the genesis of the uptrend could be possible
* over the past 2,500 bars, if a bar closed under a zone, we have a 64% chance
of a follow through to the end, in this case it would only be midway
* so maybe a break even there, but aim for the end would be a logical play
* we have a bearish divergence on MFI and RSI , as well as overbought on both, even if it is a profit take, it could help
us hit TP with the added confluence signaling more sellers to enter
