Hi all again,
Briefs:
- Market is running on sideways mode as my last comment on previous update
- 47000 is a good point to hold (better than Elsalvador I guess). I observed in the last few days, many good buy around this level and ready for long-term
- Price would make some back and forth at this level due to need to build up buyers and move when MM decides it's time to move to higher level with more interests. Currently there are not much interests from both sides at this zone.
- Price needs to swipe margin buyers before moving, so be careful if you do margin (should not use margin)
- Worst case is they want to test the interests in lower level but as I saw last time there are not much interests in the lower levels when price had first touch to 42k.
- Plan is to buy when we see trapped early buyers and price moves upward after that. SL tight and exit when it broke below the trapped zone. Be patient with candle close.
Good luck!
Briefs:
- Market is running on sideways mode as my last comment on previous update
- 47000 is a good point to hold (better than Elsalvador I guess). I observed in the last few days, many good buy around this level and ready for long-term
- Price would make some back and forth at this level due to need to build up buyers and move when MM decides it's time to move to higher level with more interests. Currently there are not much interests from both sides at this zone.
- Price needs to swipe margin buyers before moving, so be careful if you do margin (should not use margin)
- Worst case is they want to test the interests in lower level but as I saw last time there are not much interests in the lower levels when price had first touch to 42k.
- Plan is to buy when we see trapped early buyers and price moves upward after that. SL tight and exit when it broke below the trapped zone. Be patient with candle close.
Good luck!
Comment:
Price made a trap yesterday and show no interests below 47000 this time again. Then made a nice H4 OB candle today. So it's good sign to go with first plan while you have tight SL with nice RR ahead.