Manipulation of resistance level + fading upward momentum + RSI
RSI showing weakness + price is slowing its upward momentum.
You can see from the 2 green vertical lines that price formed A higher low, but RSI formed a lower low. I confirms that price has a difficult time going higher.
At the same time, we can see the manipulation of the resistance level where market makers took the stop losses for liquidity before going back aggressively below the level; thus confirming a rejection and not a break of that zone.
We can expect price going lower from here.
Here is the manipulation onthe 15min timeframe:
You can see from the 2 green vertical lines that price formed A higher low, but RSI formed a lower low. I confirms that price has a difficult time going higher.
At the same time, we can see the manipulation of the resistance level where market makers took the stop losses for liquidity before going back aggressively below the level; thus confirming a rejection and not a break of that zone.
We can expect price going lower from here.
Here is the manipulation onthe 15min timeframe:
Nota
I forgot to say, this level is also directly on the POC line of the VPVR where there is the most volume sitting there. This added convergence makes this an AAA grade setup for me.Nota
From a daily perspective, it also looks promising. So the setup does play out in our favour, I can expect for price to fall all the way down to the next major liquidity area, witch would make this a 11RR setup.Dagangan ditutup secara manual
Ok we just had a V-shaped recovery so I am now long
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.