Compressing really hard here on BTC, look at:
- volume range becoming very concentrated, clean pingpong between VAL and VAH
- H4 trend compressing to almost a single point
- you can see from the purple lines that only internal liquidity is being taken on both sides
imo this sets us up for a potential fake out setup. There is so much liquidity on both sides in this small range, that on a very clean sfp of one side, the other side would have to rush out which pushes price quickly to the other side. We saw a little bit of that already with the sweep during the asia session today.
Of course the sfp needs to be valid, wait for a reclaim setup, there is always the chance the breakout/breakdown is valid, you don't want to be on the wrong side of that either.
- volume range becoming very concentrated, clean pingpong between VAL and VAH
- H4 trend compressing to almost a single point
- you can see from the purple lines that only internal liquidity is being taken on both sides
imo this sets us up for a potential fake out setup. There is so much liquidity on both sides in this small range, that on a very clean sfp of one side, the other side would have to rush out which pushes price quickly to the other side. We saw a little bit of that already with the sweep during the asia session today.
Of course the sfp needs to be valid, wait for a reclaim setup, there is always the chance the breakout/breakdown is valid, you don't want to be on the wrong side of that either.
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Tealstreet.io Trade Faster & Trade Easier
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.