See chart for relevant explanation.
These two levels offer clear markers we can use for context relative to the D1 wedge berak.
The eventual break of A looks great in hindsight, but wasn't a great breakout setup. B provided a much stronger story, and exactly the sort of price action we're looking for ahead of a breakout.
I'm borrowing directly from Bob Volman --> trading around these levels is highly dependent on the presence of buildup and potential for double pressure. The break at B is one of the few grade A BO setups. We expect the kind of momentum that followed because the Bull-Bear fight that went on for the prior couple of days suddenly has a total paradigm shift. The same level, at which we're experiencing directional contraction (wedging against the level), is where longs are going to be forced to sell and aggressive shorts will be looking to sell to enter (hence, double pressure).
These two levels offer clear markers we can use for context relative to the D1 wedge berak.
The eventual break of A looks great in hindsight, but wasn't a great breakout setup. B provided a much stronger story, and exactly the sort of price action we're looking for ahead of a breakout.
I'm borrowing directly from Bob Volman --> trading around these levels is highly dependent on the presence of buildup and potential for double pressure. The break at B is one of the few grade A BO setups. We expect the kind of momentum that followed because the Bull-Bear fight that went on for the prior couple of days suddenly has a total paradigm shift. The same level, at which we're experiencing directional contraction (wedging against the level), is where longs are going to be forced to sell and aggressive shorts will be looking to sell to enter (hence, double pressure).