• BN was trading in a rising wedge from 7th May.
• An event of liquidity trap for the sellers occurs on 9th of May when market traded below the wedge.
• A Marubozu candle on 12th May opening indicate the big boys wants to move the BN upward and grab all the seller's liquidity.
• A higher high pattern is clearly visible on the rising wedge with resistance and support trendline.
• A consolidation of approximately one month indicates accumulation phase.
• 06th of June opening candle broke the wedge.
• A retest happens in next 2 days.
• On 11th June a retest entry trigger on top of the wedge in opening hours.
• A trade with 1:5 RR with a target of long run channel mid point.
• Preferable a bull call spread due to recent volatility crash and high risk to reward.
• Game is on. Just for educational purpose post.
• An event of liquidity trap for the sellers occurs on 9th of May when market traded below the wedge.
• A Marubozu candle on 12th May opening indicate the big boys wants to move the BN upward and grab all the seller's liquidity.
• A higher high pattern is clearly visible on the rising wedge with resistance and support trendline.
• A consolidation of approximately one month indicates accumulation phase.
• 06th of June opening candle broke the wedge.
• A retest happens in next 2 days.
• On 11th June a retest entry trigger on top of the wedge in opening hours.
• A trade with 1:5 RR with a target of long run channel mid point.
• Preferable a bull call spread due to recent volatility crash and high risk to reward.
• Game is on. Just for educational purpose post.
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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.
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.