Been away from trading due to holidays (Thank you Isreal you were amazing!!)
So here we are in a long term descending channel from a higher timeframe. Price will most certainly reach the top and re-test it.
And during this long term channel, we have a shorter ascending channel with a perfect place to enter.
HOWEVER...
If it was only that easy ever retail trader would make money! The banks know this and manipulate to market to take out all the stop losses for liquidity. They need this as their orders are so big, price would just shoot if they tried to place them all at one level.
GOLDEN RULE - - - FOR A TRANSACTION TO TAKE PLACE ON THE MARKET, THERE MUST BE A BUYER AND THERE MUST BE A SELLER. ALWAYS.
So here we are in a long term descending channel from a higher timeframe. Price will most certainly reach the top and re-test it.
And during this long term channel, we have a shorter ascending channel with a perfect place to enter.
HOWEVER...
If it was only that easy ever retail trader would make money! The banks know this and manipulate to market to take out all the stop losses for liquidity. They need this as their orders are so big, price would just shoot if they tried to place them all at one level.
GOLDEN RULE - - - FOR A TRANSACTION TO TAKE PLACE ON THE MARKET, THERE MUST BE A BUYER AND THERE MUST BE A SELLER. ALWAYS.
Comment:
People who went long are now being stop hunted, I expect price to rise once all liquidity is taken out.