Waterworks03

Waterworks03

Here is an example whereby the New York Midnight Open (NYMO) was influential. Overnight trading and pre-equities open was drifting just below the NYMO price. and once it broke above for the 2nd time with intent...it rallies hard higher for remainder of the mornings session. However, as we breakdown lower, approaching the breakout area of the morning's rally,...

Waterworks03

Look at the respect of the candle bodies at the C.E. of the Balanced Price Range (BPR). Also traded into the Bullish Order Block (+OB) prior to the displacement higher.

Waterworks03

Here is an example of a balanced price range (BPR) As the 2 price legs balance each other, price has no reason to revisit and trade back up into that vicinity. As demonstrated attached.

Waterworks03

Potentially might see price find small amounts of support at the bottom of the weekly FVG / BISI - as price completes a rebalance of an imbalance. Lines up with the 75% fib retrace. Fallback would be the volume imbalance resting just below the FVG. Seeing how price reacts at the FVG and or VI would be key as to whether we see strong or weak level of support for...

Waterworks03 Updated 

Currently in a deep discount from the 10-Oct to 12-Dec'22 swing high. Almost fully retraced. So we see PD arrays and potential draws on liquidity in each direction. I am marginally more bullish than bearish based off the relatively equal highs (REHs) left at the 12-Dec high. Too clean. BUT, likely looking to purge some sellside liquidity prior to the move back higher.

Waterworks03 Updated 

Zoomed in on daily. Last trading day Fri 17 Feb 2023, we wicked right off the C.E. of the rejection block and the upper level of the daily bearish breaker. Currently sitting right at the C.E. of the daily bearish breaker. Want to see us move towards the lower half of the breaker and trade through it, attacking the sellside liquidity at the RELs.

Waterworks03 Updated 

We've seen a STH broken with velocity and displacement. Shift in market structure. Currently respecting the bottom end of the bullish breaker. Which we would want to see the candle bodies respect and prefer to stay within. i.e act as support. Fallback would be a touch of the upper half of the FVG, but prefer if it remained at the bullish breaker for a...

Waterworks03

STUDY and HINDSIGHT but... Is this how BTCs ATH broke down?

Waterworks03

ATH liquidity PURGED. RELs at $241.80 are too clean. looking for a shift in market structure, with a break below the short term low at $225.56. Then looking at the bearish breaker acting as resistance, holding and pushing price down further. Multiple inefficacies to the downside as targets and draws on liquidity.

Waterworks03

Long-term weekly high - Liquidity PURGED. We've seen a short-term low broken with bearish displacement candle; leaving a FVG (SIBI) in its wake. We've seen price break down and trade back into the bottom of the bearish breaker twice, which is being highly respected with candle wicks and bodies. Each touch we see price react and move away from the area...