1) Retail trader (weak seller) entered at 1.5924.
2) MM buy the sell order and push the market up & close their buy at 1.6781 with ratio of 1:1 based on previous drop height
3) As MM close their buy order at higher price in the process, the retail trader (weak buyer) buy all the close order from MM as MM who enter at low price already exiting the market and change...
Probability of breakout is 75%.... wait for the BO above the line then pullback & form a HL for better confirmation before diving in for long trade...
This is a risky trade to follow my plan on trading against the trend. I will not responsible for any loss of financial.
Market is very bearish.
Continue shorting in Leg 2 phase if the next few bars test the broken support level 0.868 to prove it is a resistance level.
Otherwise, scalping at buying low and sell high at 0.906
Recent bullish pin bar showing sign of bear has sell-off their short. The next follow through bar was Bull bar showing sign of high confidence in buying.
Expect Leg 1 to break above the recent resistance line. Enter in Leg 2 for long and swing trade with high probability.
Transition from Bear to TR.
Recent long wick Bear bar shows failed Bear breakout. Expecting Bull trend in higher than 50% chance market.
Bull need to break above resistance with good follow through bar for swing trade.