Yo, me again,
Ok, earlier on this morning we understood what we needed to see in order for us to convict that the market makers favoured higher prices. An understanding of “Key Levels” is critical as this will determine whether or not the market makers will visit these zones that are deemed as “points of interest” in other words…Pools of liquidity. Remember, i say it all the time, market makers fullfil orders taht they can see, so if there are retail traders that have orders set at the 200 day, market makers will send price accordingly, once they reach that point, then we will know if there is money there for the market maker to either continue the move or retrace to gather more orders for their own positions.
Pay attention to the chart, what do we see? Now that price has hit the first projected zone (200 day ema white line) as stated in the previous post, we would need price to retrace back to the 50 day to confirm that they do favour higher prices and more importantly, has the mid week reversal effectively come into play?
The blue boxed zone on the 15 time frame will need to be hit to confirm whether or not there will be support to favour higher prices at a later point. Granted, they could retrace all the way back down and test the daily pivot point which is the 54385. So always be aware. If this was to happen, you would receive enough information from the market maker as he will break down through the 50 day, retrace back up, find resistance, then continue down…
If you recall last night in the stream, we established that the M2 = M4…This is the confirmed projection. Please review last nights stream to verify.
Now that we have effectively hit the M4…We need to see if market makers want to go higher…So what do we look for?
We need price to come back down to the M3 pivot/50 day ema on the 15m time frame, once in this area, price should bounce back up. if the bounce is with conviction, we will most likely see the M5 point which is 58033….
Another thing – (sorry) The Range Daily High is in sight which is the 57077. If this is near, price usually hits this zone then pulls back…
As always guys, I will make sure you are in the loop with the movements of price …We consider Bitcoin as that is where the “money” starts to go first…
Of course, the above explanations are merely for educational purposes. I need to stress to you that due diligence is required. I am merely providing you with the framework to help you understand the market makers behaviours at key areas.
I urge you….Stay in the game…No home runs…Just executions.
Trade Well My Friends.