After huge impulses to the downside, it is a huge win for the seller. However, this also give a chance for bull to make an entry since it will take some time for the seller to take their profit. However, the retracement pushed too far.
I think that the seller failed to square their position properly as this give a surplus retracement. This mean that seller does not utilize all the advantage they had.
After the big impulses show up, this increase speculation and interest among retail trader who gonna trade this pair. They always expect a retracement. That impulses move is risky after all for the price. However, the price react differently and does not follow what retail trader expected, it show surplus move. This show that most fibonacci trader are trapped above and give the momentum to the price for second huge movement to the downside which is what it did.
This huge second impulses could possibly worn up the price. It should create another consolidate to collect new momentum which is what it did. This time, the seller finally realize their mistake and wanted to recover their lose. They push their key level to new zone which create minor structure. This show that seller are slowly taking over the ascending channel that buyer are currently holding.
After some time, the price finally reach their peak and ready to make it next move. They began to find a good spot to create a momentum before a breakout. This is where violation on the structure started. I spotted them using MA Cross on Bullish Signal which ideal for me to think it as a Bull Trap. It create momentum as I expected.
The price finally break through the ascending channel and ready to change its trend. They slowly regain its momentum first below the swap zone so that the seller can push them further below.
The price make an impulses and perfect key level for a retracement. I expect a consolidation for descending channel for this week on this mapping approach.
I think that the seller failed to square their position properly as this give a surplus retracement. This mean that seller does not utilize all the advantage they had.
After the big impulses show up, this increase speculation and interest among retail trader who gonna trade this pair. They always expect a retracement. That impulses move is risky after all for the price. However, the price react differently and does not follow what retail trader expected, it show surplus move. This show that most fibonacci trader are trapped above and give the momentum to the price for second huge movement to the downside which is what it did.
This huge second impulses could possibly worn up the price. It should create another consolidate to collect new momentum which is what it did. This time, the seller finally realize their mistake and wanted to recover their lose. They push their key level to new zone which create minor structure. This show that seller are slowly taking over the ascending channel that buyer are currently holding.
After some time, the price finally reach their peak and ready to make it next move. They began to find a good spot to create a momentum before a breakout. This is where violation on the structure started. I spotted them using MA Cross on Bullish Signal which ideal for me to think it as a Bull Trap. It create momentum as I expected.
The price finally break through the ascending channel and ready to change its trend. They slowly regain its momentum first below the swap zone so that the seller can push them further below.
The price make an impulses and perfect key level for a retracement. I expect a consolidation for descending channel for this week on this mapping approach.