This old price action saw a rally post Frankfurt session which saw the week open a short repricing lower to take out previous Short Term Lows(STL) of previous post Frankfurt session Lows. Yes, the NWOG (New Week Opening Gap) was also a big factor
THE IDEA IS BASED ON; 1. Break in market structure 2. Imbalances and stops to be taken out (BUY STOPS) 3. Price mechanics 4. liquidity trading
#POSITIONTRADE
THE LONG IS BASED ON TAKING OUT OLD LIQUIDITY POOLS ON LOW TIME FRAME FOR A SWING TRADE FRAMED ON THE 4HR. THE THRUST THROUGH OBVIOUS LEVELS; REACHING DOWN FOR OLD PRICE POOLS BEFORE REACHING HIGHER.
THIS IS A SIMPLE ANTICIPATION OF A GOLD LONG; BEFORE THAT A DIP OF PREVIOUS LOW A BUY LIQUIDITY POOL AND A RUN THROUGH A SORT LEVEL THAT'S BEING WORKED...THE RECTANGLES ARE ACCUMULATION PRIOR TO ANOTHER DISTRIBUTION.....THE LONG RECTANGLES DELIINIATE LEVELS TO BE SOUGHT NOT SUPPORT AND RESISTANCES
THIS CHART PATTERN IS CALLED THE WOLFIE WAVE; YOU LOOK FOR A CLEAR FIVE WAVE GYRATION, THEN ON THE FIFTH WAVE WHICH IS USUALLY THE BREAK OUT AND THE LONGEST WAVE, YOU CONNECT THE POINTS 'ONE' AND' FOUR' PROJECTING INTO THE FUTURE AND WHEREVER PRICE OVERLAPS IN THE FUTURE IS A REASONABLE TARGET FOR LONG AND THE WAVE FIVE.........ITS USUALLY NOT THE BE ALL AND END...
THE TRADING IDEA IS BASED AROUND A VERY SOUGHT OUT LEVEL AND DEALING RANGE USING THE HIGHER TIME FRAME LEVEL AND FINE TUNING ENTRY WITH FIBONNACI CONFLUENCES TO FIND ENRTIES.......TWO LONG SCENERIOS IF THE SOUGHT LEVEL HOLDS, MORE OF A ZONE RATHER THAN A LEVEL AND SHORT SCENERIO IF IT BREAKS THROUGH AGGRESSIVELY
@POSITINAL_TRADE
