📍 Consider the following chart, which arose after the waterfall alerts triggered:
As the main map, sellers now chose the ABC sequence, with profit taking already being done and sharp buyers also deciding to step in with an early attack.
Continue looking to play longs to shake the reluctant sellers stops at the considered centre. It is no revolutionary idea, simply corresponding with the latest moves in Gold:
Use 23.5x to build into, it does not look promising for sellers after the defence and their stops are clearly located at 26.0x and 28.9x. In other words:
Buyers know their positioning is now weak and the base is secure.
Of course other events can cause on base to appear softer than usual, so the transfer of newsflow around vaccines back towards a collapse in public sector confidence, is rather a natural weapon these days.
As usual....Thanks for keeping the feedback coming 👍 or 👎