Let's do the point ! // Update #12.2
In reaction of yesterday's update, I said exactly that we was between two structure which complement each other but which can diverge if Wyckoff reintegrates his pattern. And I also said that in the channel pattern we was expecting a pullback before to target the extention.
So everything is happening right now, we have pullbacked the broken resistance with selling volume on top which mean that we have the confrontation between the reintegration of the Wyckoff pattern after a new AR (failed SOS) and the pullback of the channel. We start to see buying pressure on spot, now it's important to wait buying volumes. If you anticipate any move here on this area it's clearly a 50/50, the key will be in buying volumes for the bull side.
If it start to lateralize here, we will see a compression and so it will be important to analyse where go the absorption of volume to understand where will be the breakout.
In all case, I remind that areas of confrontation between two forces are really tricky spots for beginner so, if you are, I advise you to stay away of it.
👉 Like, follow or comment if you like, I need it to continue !
In reaction of yesterday's update, I said exactly that we was between two structure which complement each other but which can diverge if Wyckoff reintegrates his pattern. And I also said that in the channel pattern we was expecting a pullback before to target the extention.
So everything is happening right now, we have pullbacked the broken resistance with selling volume on top which mean that we have the confrontation between the reintegration of the Wyckoff pattern after a new AR (failed SOS) and the pullback of the channel. We start to see buying pressure on spot, now it's important to wait buying volumes. If you anticipate any move here on this area it's clearly a 50/50, the key will be in buying volumes for the bull side.
If it start to lateralize here, we will see a compression and so it will be important to analyse where go the absorption of volume to understand where will be the breakout.
In all case, I remind that areas of confrontation between two forces are really tricky spots for beginner so, if you are, I advise you to stay away of it.
👉 Like, follow or comment if you like, I need it to continue !
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INITIAL IDEA
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UPDATE
Don't seams to be in favor of the channel for the moment, we now retest the supply, but without buying volume there is low probability to see it break up.
Don't seams to be in favor of the channel for the moment, we now retest the supply, but without buying volume there is low probability to see it break up.
