It is interesting the large amount of volume that has been coming in recently. Just yesterday it was the highest on a daily basis since November 2024 and we know November 2024 was a bullish month.
There is a very strong wipeout candle here, 30-May. These can be taken as a strong reversal signal but only at this juncture of course.
3-Feb we had a wipeout candle but there was no clear bottom in sight yet, and bearish volume was high and thus the market continued lower.
The one from 30-May is preceded by a bottom formation, so we know this one is the final low. Also, this candle is not present on other exchanges which is quite revealing. It means this exchange wanted to liquidate all its leveraged trades and activate all stop-loss orders. It certainly did.
So we ignore this candle but take from it that the bottom is already in. Confirmed. This means that growth will happen next and the high buy volume yesterday confirms this second statement. All in all, we can go LONG with a high probability of success.
Low risk vs a high potential for reward.
Namaste.
There is a very strong wipeout candle here, 30-May. These can be taken as a strong reversal signal but only at this juncture of course.
3-Feb we had a wipeout candle but there was no clear bottom in sight yet, and bearish volume was high and thus the market continued lower.
The one from 30-May is preceded by a bottom formation, so we know this one is the final low. Also, this candle is not present on other exchanges which is quite revealing. It means this exchange wanted to liquidate all its leveraged trades and activate all stop-loss orders. It certainly did.
So we ignore this candle but take from it that the bottom is already in. Confirmed. This means that growth will happen next and the high buy volume yesterday confirms this second statement. All in all, we can go LONG with a high probability of success.
Low risk vs a high potential for reward.
Namaste.
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🚨 FREE Quality Content + New Results
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🚨 Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
t.me/anandatrades/1183
🚨 FREE Quality Content + New Results
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🚨 Go beyond! PREMIUM LIFETIME Access
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Related publications
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.