With price fast approaching the monthly low we can expect buyers to begin joining the market looking for support. This can be confirmed by the sentiment data showing that 82% of retail traders are long.
This figure is huge! If we understand that 90% of traders are wrong and 82% of the market is stacking buys, we can use this valuable data to bet against them.
We can't just enter sells anywhere, it has to be timed and precise. My two entry regions are:
1) The gap created at the market open.
2) The imbalance region caused by the huge leg to the downside.
If price comes to these zones and satisfies an entry, we can sell with the aim of sweeping buyer liquidity placed below the monthly low.
🚀Thanks for your BOOSTS and support🚀
💬Send your comments and questions below, I'll be glad to talk to you💬
This figure is huge! If we understand that 90% of traders are wrong and 82% of the market is stacking buys, we can use this valuable data to bet against them.
We can't just enter sells anywhere, it has to be timed and precise. My two entry regions are:
1) The gap created at the market open.
2) The imbalance region caused by the huge leg to the downside.
If price comes to these zones and satisfies an entry, we can sell with the aim of sweeping buyer liquidity placed below the monthly low.
🚀Thanks for your BOOSTS and support🚀
💬Send your comments and questions below, I'll be glad to talk to you💬
No interest from mwe