Distribution manipulation of longer term trendline.
מעודכן
The market is showing a lot of weakness indicated from the RSI, but the price is at its highest since July of 2019!!! Everyone is euphoric, so it's time to think the other way around.
There has just been a mini break of the consolidation to the downside. The retest of the POC level is the perfect entry for a good RR. Stop above the consolidation. It has to reach the next consolidation witch gives us a potential of 5RR or more for this trade.
Here is a better view at the trendline that will get manipulated. It got started in march 2020 (where the fear of the pandemic was at its highest)
There has just been a mini break of the consolidation to the downside. The retest of the POC level is the perfect entry for a good RR. Stop above the consolidation. It has to reach the next consolidation witch gives us a potential of 5RR or more for this trade.
Here is a better view at the trendline that will get manipulated. It got started in march 2020 (where the fear of the pandemic was at its highest)
עסקה סגורה: הגיע לסטופ
The uptrend has not finished. The consolidation was actually an accumulation and not a distribution. What I have learned for next time: in a very strong trend, I should wait for a more significant indication of a reversal before going against the trend.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.