UA Short 59 to 54



On the daily, I just don't see enough liquidity for the big boys to be involved short like we had in mid March or any abnormally high volume spikes, so I will be looking for a long entry tomorrow morning. For an ideal short, I would really like to see lots of weak shorts getting stopped out along with late longs buying at the top so that Big players can get their liquidity, and If I'm right prices will explode as shorts get squeezed so be very careful. Liquidity for the big players is at new highs.
On the weekly, UA had a low volume test last week, then it broke out of the pin bar today. Usually when price breaks out of a hammer, price will sometimes pullback to hit the stops before continuing. I think liquidity is new highs based on the huge volume weekly pin bar at the bottom.
The 5 min is right on top of the both the 200sma and the 200ema so you got lots of support, plus on the 30min the false breakout had only low volume meaning exhaustion instead of new sellers coming in at the top. It is also rejecting the top of two value areas which is normally a strong buy for me as a trend trade.
Ameliia Diukre EliteTrader101
What you mean when you say that it 's normally a strong buy for me as a trend trade?
EliteTrader101 Ameliia Diukre
I normally buy at this price level on similar price action setups
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