We are between Phase B and Phase C of a potential Distribution on the higher range (around $3400.
Here's the breakdown:
Buying Climax (BC) and Automatic Reaction (AR) are well-formed.
We are now waiting for the confirmation of the Secondary Tests and also a potential Upthrust Actions near the top around $3400 area.
Next logical sweep target will be Buy-side liquidity above PDH area.
Possibly creating Secondary test for confirmation.
Then it should trigger a markdown phase.
If distribution fails, Smart Money would invalidate the entire range with a full Breakout + Retest + Continuation above 3,400 but low probability without more volume or wars.
Two scenarios here:
Bearish (Higher Probability)
Idea: Wait for a Secondary Test or Lower High around the resistance/POI near 3,390–3,396
Entry: Short on rejection or bearish M5 structure break after tagging that area
SL: Above 3,400 (or 30-40 pips above ST candle wick)
TP1 = 3377 (gap close)
TP2 = 3360 (Daily Gap)
TP3 = 3338 (PDL retest)
🟩 Bullish (Only if invalidation happens)
Idea: If we break above 3400 clean and hold on retest, it means Phase D of Accumulation started instead.
Entry: Long on retest of 3400 as support
SL: Below 3400
TP: Trail it...
Stay reactive around 3,390–3,396 for short opportunity only if price shows signs of failure there.
By the time it took me to post this idea the price has already move up 100 pips.
Trade safely!!
Here's the breakdown:
Buying Climax (BC) and Automatic Reaction (AR) are well-formed.
We are now waiting for the confirmation of the Secondary Tests and also a potential Upthrust Actions near the top around $3400 area.
Next logical sweep target will be Buy-side liquidity above PDH area.
Possibly creating Secondary test for confirmation.
Then it should trigger a markdown phase.
If distribution fails, Smart Money would invalidate the entire range with a full Breakout + Retest + Continuation above 3,400 but low probability without more volume or wars.
Two scenarios here:
Bearish (Higher Probability)
Idea: Wait for a Secondary Test or Lower High around the resistance/POI near 3,390–3,396
Entry: Short on rejection or bearish M5 structure break after tagging that area
SL: Above 3,400 (or 30-40 pips above ST candle wick)
TP1 = 3377 (gap close)
TP2 = 3360 (Daily Gap)
TP3 = 3338 (PDL retest)
🟩 Bullish (Only if invalidation happens)
Idea: If we break above 3400 clean and hold on retest, it means Phase D of Accumulation started instead.
Entry: Long on retest of 3400 as support
SL: Below 3400
TP: Trail it...
Stay reactive around 3,390–3,396 for short opportunity only if price shows signs of failure there.
By the time it took me to post this idea the price has already move up 100 pips.
Trade safely!!
Order cancelled
Well, not only I missed the long at 9:30 am while I was making this post but Israel also attacked Iran so here is our buying volume and "news" to invalidate the set up. I will most likely not waste my time with those post anymore lol.
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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.