What's up guys Brandon here, good morning..
So I did speak to this exact thing yesterday with my last mind suggesting that sells had expired
I was busy and I missed to call out an entry but I want to explain why I think gold did what it did
All things considered I did see this coming and if you go on my tradingview profile and tap on "minds" you'd see the trajectory of where my head was at
So without further ado - let us begin (WARNING - this may be long lol)
SO
Firstly - we have (in purple) sellers selling as price drops - I believe sellers would have been doing this because that is what traders who do not understand what the market is really doing would have done.
I believe that regardless of what direction the market is actually going there will always be some poor sap trying to sell what he thinks is the highest high.
The reason I never recommend this is because obviously there is no way to determine where the highest high is - in my experience price can and WILL always go high (at some point)
So we know that sellers would have injected liquidity into these areas with the purple lines
This then secondly brings me to the turquoise zone which is where we know buys who see "support" would have been buying
We know that that is the case because the very Third thing we then saw was price smashed through that area (highlighted in orange) without even thinking about it
By smashing through that level all the buyers who had stops below that level would have been taken out
It is around this time I spoke about being more interested in sells (temporarily) don't take my word for it...go to my tradingview profile to confirm what I said
I am not like other people who post here and say .."didn't I tell you so", when in fact they didn't and even when they did - they gave no reason as to why they see what they saw
I break it down because I want you to build out a picture so that you yourself can understand
But I digress
After destroying the buyers stop losses, We know that this is a bullish market so the dealer's real target would be the buyers because by buying the market sellers would be taken out automatically should it keep buying
The question is how would the dealer destroy the buyers - The traders on the right side of the move?
By doing what he did below the turquoise zone...
Lastly once he broke back above that turquoise zone (highlighted in pink) you see price stumble there for a little bit as the dealer tried to capture any last minute sellers trying to sell the retest
And the dealer absolutely destroys sellers with a +192 pip move upwards (right back to where the first set of sellers sold) - interesting right? NO, it's messed up that that was the dealers plan all along
The reality is the way that I trade - instead of trying to identify the pattern - I try to look for the reason for the pattern and that is why my explanations are always so long
Most traders don't stop to think about "THE WHY" they only see "the what"
Now that the dealer has taken out traders who thought they got the timing right (buyers who were early) the dealer is free to buy without worrying about if he has taken out majority of the liquidity
My apologies for the really long explanation but I hope that you took the time to read this
If you did, don't be afraid to leave an upvote
Let's see what happens today
So I did speak to this exact thing yesterday with my last mind suggesting that sells had expired
I was busy and I missed to call out an entry but I want to explain why I think gold did what it did
All things considered I did see this coming and if you go on my tradingview profile and tap on "minds" you'd see the trajectory of where my head was at
So without further ado - let us begin (WARNING - this may be long lol)
SO
Firstly - we have (in purple) sellers selling as price drops - I believe sellers would have been doing this because that is what traders who do not understand what the market is really doing would have done.
I believe that regardless of what direction the market is actually going there will always be some poor sap trying to sell what he thinks is the highest high.
The reason I never recommend this is because obviously there is no way to determine where the highest high is - in my experience price can and WILL always go high (at some point)
So we know that sellers would have injected liquidity into these areas with the purple lines
This then secondly brings me to the turquoise zone which is where we know buys who see "support" would have been buying
We know that that is the case because the very Third thing we then saw was price smashed through that area (highlighted in orange) without even thinking about it
By smashing through that level all the buyers who had stops below that level would have been taken out
It is around this time I spoke about being more interested in sells (temporarily) don't take my word for it...go to my tradingview profile to confirm what I said
I am not like other people who post here and say .."didn't I tell you so", when in fact they didn't and even when they did - they gave no reason as to why they see what they saw
I break it down because I want you to build out a picture so that you yourself can understand
But I digress
After destroying the buyers stop losses, We know that this is a bullish market so the dealer's real target would be the buyers because by buying the market sellers would be taken out automatically should it keep buying
The question is how would the dealer destroy the buyers - The traders on the right side of the move?
By doing what he did below the turquoise zone...
Lastly once he broke back above that turquoise zone (highlighted in pink) you see price stumble there for a little bit as the dealer tried to capture any last minute sellers trying to sell the retest
And the dealer absolutely destroys sellers with a +192 pip move upwards (right back to where the first set of sellers sold) - interesting right? NO, it's messed up that that was the dealers plan all along
The reality is the way that I trade - instead of trying to identify the pattern - I try to look for the reason for the pattern and that is why my explanations are always so long
Most traders don't stop to think about "THE WHY" they only see "the what"
Now that the dealer has taken out traders who thought they got the timing right (buyers who were early) the dealer is free to buy without worrying about if he has taken out majority of the liquidity
My apologies for the really long explanation but I hope that you took the time to read this
If you did, don't be afraid to leave an upvote
Let's see what happens today
