Manipulation of resistance level + fading upward momentum + RSI

31 mars 2021

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:

31 mars 2021

Note

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.

31 mars 2021

Note

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.

2 avr. 2021

Trade fermée manuellement

Ok we just had a V-shaped recovery so I am now long