Whenever price interacts with a level don´t forget what the trend is, support is expected to fail in downtrends, or at least be more difficult to trade than resistance.
FOLLOW THE TREND: . 1H(4H sync is a +) MSB into a new trend confirmed by fib retracement into 0.5/0.61 holding generally confirms a new trend, from then on use basic S/R levels or zones in cases where u have FVGs until u get a trend change again at an important structural level
Between a setup that feels clean, and a setup that has a higher RR but lacks cleanliness, always take the cleaner one (clean BTC short near level, middle of nowhere SOL short).
if we remain inside VA or show general weakness I will most likely stay out of trades since I don´t think levels in green will hold if we start selling again, so no longs other than lower purple box. Profile setups I can take just very cautiously.
15/04/2022 plan. Long yesterdays buying tail or a pull back after we breakout from the 40k level and IB, feels like it might be a neutral day but since we are at HTF I'm not taking any shorts here
if we stay above range lows for a couple of days it might be indication that a HL is forming, in any case I will be patient to not get caught off side with the general direction of the market
HTF levels and bias. After the fakeout in purple BTC has reached the bottom of the range, I'm not going to short this here, I will wait for a break below to prioritize short setups and keep an eye on the equal lows around 37k, maybe they get cleaned and then we reclaim the range
I have no clue whats gonna happen next and will reasses my levels and bias in the pm, for now I will just say thats a nice bart. will update after daily close.
The trades for today were shorting at yesterdays selling tail or longing the lower box, but the price not being able to stay above POC was early indication that sellers were stronger in this structure and that its resolution would be to the downside, I took the long myself. 4/n
2 notable structures appear: . 1. Long wicks at bottom of second distribution of pd profile have a lot of negative delta present. 2. Selling tail above 41.3k level combined with trapped buyers on the wick forming a liquidity zone, forming a nice area to risk against. 3/n
After yesterdays short squeeze induced B shaped distribution, todays price action began inside the upper distribution close to the 41.3k level, the structure developed before the open was typical after a strong directional move with a small range forming and rotations ocurring
Price accepted above the range and has continued to the upside in an area with plenty of small highs with buy stops to be taken pushing the price up, this is my first time going back thru a squeeze using orderflow and vp, lotta new things I can see myself paying attention to now
Didn´t realize until later but the buyers had not only squeezed the negative delta at the VAL but they also noticed the series of equal highs above POC and went for them too, squeezing the shorts and creating a second impulse that broke pdVAH. 5/n
Now I woke up after this had already wicked pdVAL so no rotational pdVAL long from me, ended up longing reclaim of todays VAL and cutting at POC, which worked out fine but I noticed some extra aggresiveness from the buyers after I closed, POC got ran thru within minutes. 4/n