50 EMA and 200 EMA crossed over to the upside. Some amount of retail orders must be gathering here by now. Expecting a stophunt to the 50 EMA (water) with wicks/trap candlestick patterns. No Pattern = No Trade Lets see ..
Looking for a Long at the 50 EMA given a pattern
Expecting an aggressive W formation on the 50 EMA No pattern = No Trade
Hoping to see some wicky-ish patterns over the 800 EMA hammers/doji's/ constant wicks etc etc Setup invalid if Thursdays HOD is taken out and makes a 15M close No pattern = No Trade
Lot of people do take the moving averages cross + a close and so it's pretty logical to assume that there are a lot of retail order buildups in these zones as their orders come in from here. people also will often use the 50 EMA as a confirmation for something they take so most times the aggressive behavior is seen on these type of zone's to fake traders. The...
Trend acceleration should start from here i assume. Looking for reasons to go long. (W formation) setup invalidates if yestedays Low is taken out (which would mean the peak formation high has formed)
Fear, Greed and Panic at the extremes. quick moves at the extremes induce traders to react as in these behaviors. "The trend is your friend. Until it ends ."
3 drops seen. need a reason to counter this still UJ doesnt look like an up cycle to me . after hitting mayo probably a trap move and go down again
SL always go above the wicks of the formation The drawn price positions are not specific but just a prediction of how it "May" look like when price bounces off from the water. If pattern doesn't present on the Water = No Trade **ADR(15) has been hit so it's highly unlikely this move happens today. Possibly tommrow ...
Check Linked idea for more details of the setup (Same set)
expecting a reason to short (M formation above the accumulation zone of asia) targeting mayo (200 EMA ) else water (50 EMA )
.... Everything explained on chart