Cumulative volumes divergence shows that supply has been dried up. Yesterday, there was bearish trap, which can be consired as Wyckoff spring. 2 possible strategy
1. Aggressive - buy at spring test, SL below spring low
2. Conservative - wait for first wave up. If volume picks up, wait for low volume pullback/test and go long.
In case of breaking to downside, consolidation zone will be consider as redistribution.
Have a safe trading.
1. Aggressive - buy at spring test, SL below spring low
2. Conservative - wait for first wave up. If volume picks up, wait for low volume pullback/test and go long.
In case of breaking to downside, consolidation zone will be consider as redistribution.
Have a safe trading.
Note
Lower TF perspective.
Note
During Asia session, there was another stop run by 1 pip. Now, we see sharp move up.
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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.