REJECTED - LDTP #14.4
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Let's do the point ! // Update #14.4
I said that we will gauge selling pressure around $30,800 - $31,500, we directly rejected the area :
Acceleration also started, not to the spring area bottom like I said, yet, but I bet for a hard monday. Low probability to see it happen during the weekend.
Confirming that, we can see lateralization now on daily timeframe. Lateralization is in favor of continuation so we have now everything aligned to see a deeper bottom, and I expect it soon. In a global view, we stay in the same dynamic in this cycle which is : no consolidation ! Typical of a spring.
The only bull scenario that I see here is the range exploit on hourly timeframe :
For that we need to see strong buyers on bottom of it to invalidate sellers. But it's not even a bull expectation for the daily timeframe because it give a target in the broken support which bring us again in the initial scenario which is : pullback into deeper bottom.
So I'm sorry for my bullish friends but I'm still waiting the bottom.
Like, follow or comment if you like, it give me some strength to continue !
I said that we will gauge selling pressure around $30,800 - $31,500, we directly rejected the area :
Acceleration also started, not to the spring area bottom like I said, yet, but I bet for a hard monday. Low probability to see it happen during the weekend.
Confirming that, we can see lateralization now on daily timeframe. Lateralization is in favor of continuation so we have now everything aligned to see a deeper bottom, and I expect it soon. In a global view, we stay in the same dynamic in this cycle which is : no consolidation ! Typical of a spring.
The only bull scenario that I see here is the range exploit on hourly timeframe :
For that we need to see strong buyers on bottom of it to invalidate sellers. But it's not even a bull expectation for the daily timeframe because it give a target in the broken support which bring us again in the initial scenario which is : pullback into deeper bottom.
So I'm sorry for my bullish friends but I'm still waiting the bottom.
Like, follow or comment if you like, it give me some strength to continue !
Note
GLOBAL IDEA THAT WE FOLLOW SINCE 3 MONTH !
Note
UPDATE 23/05So US session closed with a not as hard as I was expected monday, plan stay unchanged for two reason : we closed the week in the supply area like thursday and gave the same reaction as friday to it with an acceleration. So we repeated the same signal as last week, it just delay what I said in this idea to tomorrow.
Secondly, we are always in lateralization pattern and more it continue less there is chance to see a bull outcome.
Best case is now to see a candle close in the demand area, under $29,350.
Note
UPDATE 24/05Attempt rejected for the breakout now, with buying volume and signal on hour timeframe. We will see if it can provide the exploit of the range scenario, always waiting for sellers reaction in the supply area.
We are now in the 6th cycle of this range, it's heavylly mature. Standard range will provide around 3-4 cycle, 6 here. There is nothing to analyse from this range on this timeframe anymore, it's now a coin flip, 50/50 to say which side will win. So answer isn't on this timeframe but on highers', and on daily's my plan stay unchanged.
In all case with the amount of stop loss that we should see around this range, we can expect a brutal breakout. Which make me think that it's a good opportunity for institutionnals to exploit stop hunt on supply area in a fake breakout to the south.
Will see.
Note
UPDATE 26/05Stop hunt realised on the bottom of the area, I warned about it but missed the side. We will see if we can go take the other side, for the moment this one provide only an epidermic reaction on key levels, with a pullback on the POC of the range without follow up of buyers. Daily plan stay unchanged.
Maybe I will post a new LDTP with it more explained.
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