Let's do the point ! // Update #12.1
Short update. Speaking of the topic of the LDTP #12, the leak of volume have been filled as announced. We can see on the volume profile the left red bar which represent the level of volume before this range and so with the right red bar you can see the impact of it. I think it's a good way for beginners or even experimented traders to understand and visualize what is happening behind the price, you see candles, you see lines, but it's important to understand that your market have a structure AND respect a structure. Understand that and you will understand that you have time when you trade, and so that patience must be one of your skills.
In the LDTP #12, I also spoke of multiple patterns that I was expecting to see in this range. You can see on the next picture that two structures start to take place, we will see which one will succeed. First the Wyckoff pattern, we are currently reacting on the resistance line. In all case I will not exploit it because as already explained when you have decreasing volume in this structure you can expect an antcipated exit, and with this long weekend we've seen only few volumes. So that will not surprise me that we could exit now but as it's not really representative with holiday it could also retake a standard pattern with a spring. So just stay away of it if you are not experimented. The second pattern is a downward channel, resistance have been broke so we wait for a pullback before to target the extension. As the other I remind to stay away, we are between to structure which complement each other but which can diverge if Wyckoff reintegrates his pattern, just stay away of it and wait the market to take a side. Go on higher timeframe and be patient.
In term of larger picture, my expectations stay unchanged, I'm not surprise to see a reaction on the POC, that why I anticipated to see structures here in the LDTP #12. Now we will see if we go for a consolidation or if it's just an epidermal reaction because of the level. Hard to analyse the volume of monday with this long weekend, furthermore I'm always suspicious with big mondays because of the cyclicality of the market. So, as multiple times, answer will be in patience.
Like, follow or comment if you like, I need it to continue !
Short update. Speaking of the topic of the LDTP #12, the leak of volume have been filled as announced. We can see on the volume profile the left red bar which represent the level of volume before this range and so with the right red bar you can see the impact of it. I think it's a good way for beginners or even experimented traders to understand and visualize what is happening behind the price, you see candles, you see lines, but it's important to understand that your market have a structure AND respect a structure. Understand that and you will understand that you have time when you trade, and so that patience must be one of your skills.
In the LDTP #12, I also spoke of multiple patterns that I was expecting to see in this range. You can see on the next picture that two structures start to take place, we will see which one will succeed. First the Wyckoff pattern, we are currently reacting on the resistance line. In all case I will not exploit it because as already explained when you have decreasing volume in this structure you can expect an antcipated exit, and with this long weekend we've seen only few volumes. So that will not surprise me that we could exit now but as it's not really representative with holiday it could also retake a standard pattern with a spring. So just stay away of it if you are not experimented. The second pattern is a downward channel, resistance have been broke so we wait for a pullback before to target the extension. As the other I remind to stay away, we are between to structure which complement each other but which can diverge if Wyckoff reintegrates his pattern, just stay away of it and wait the market to take a side. Go on higher timeframe and be patient.
In term of larger picture, my expectations stay unchanged, I'm not surprise to see a reaction on the POC, that why I anticipated to see structures here in the LDTP #12. Now we will see if we go for a consolidation or if it's just an epidermal reaction because of the level. Hard to analyse the volume of monday with this long weekend, furthermore I'm always suspicious with big mondays because of the cyclicality of the market. So, as multiple times, answer will be in patience.
Like, follow or comment if you like, I need it to continue !
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INITIAL IDEA
