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market started very strong
but then failed hard at 10:00
that short structure lasted a few tpo´s but was not able to follow through
so i traded long the rest of the day
we have higher value with a "value island"
if we would have finished strong i would eventually have left a runner
News
nothing scheduled
but comments on trade can come anytime
in this newsy environment
Condition 1
big range expansion on friday after comments on trade war
Condition 0
we saw covering in eth which reaches fridays mid
Thoughts
we are up >35% from the april lows
pullbacks/liquidadions are normal and healthy
Will this be bought back soon like the others since april? I do not know. But there could be more covering above onh
Could the sell off continue? I do not know. If we see acceptance below rth l there coud be more selling
Do we just balance out this huge move from friday today. Could also be
Condition 1
big liquidation day
followed by much smaller inside day
Condition 0
we gap below the inside day
Thoughts
Use edges of inside day as reference points. Any change to the upside has to find acceptance in y range first
Next reference to the downside is liquidation day poc and low and its much lower eth low
Do not start too agressively. There will be many opportunities in this vola
Condition 1
yesterdays covering rally reached the 61,8 retracement of the big liquidation day
Condition 0
open with small gap up
eth stopped at bottom of 2w balance area
Thoughts
rth acceptance above 61,8% is bullish
acceptance in the visious balance area also
acceptance below y upper distribution could change the picture
Condition 1
we are inside that liquidation day for 3 days now
Condition 0
open in y upper distribution
Thoughts
Y selloff was on strong volume but it was not able to follow through
For now we see no real selling
I think it is just a very NEWSY environment