Cumulative volumes divergence shows that supply has been dried up. Yesterday, there was bearish trap, which can be consired as Wyckoff spring. 2 possible strategy
1. Aggressive - buy at spring test, SL below spring low
2. Conservative - wait for first wave up. If volume picks up, wait for low volume pullback/test and go long.
In case of breaking to downside, consolidation zone will be consider as redistribution.
Have a safe trading.
1. Aggressive - buy at spring test, SL below spring low
2. Conservative - wait for first wave up. If volume picks up, wait for low volume pullback/test and go long.
In case of breaking to downside, consolidation zone will be consider as redistribution.
Have a safe trading.
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Lower TF perspective.
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During Asia session, there was another stop run by 1 pip. Now, we see sharp move up.