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Condition 1
nervous balancing inside the liquidation day
Condition 0
eth explored below the swing low but gets rejected
> This is bullish and often (not always) spills over to the rth session
Thoughts
Last 4 days we see no continued direction
Short term traders shoot themselves into corners and get trapped
Trade accordingly until this changes and we see continuation
Thoughts
Structure below is weak
I would trade long but with caution
After a big shake out below the liquidation low i would trade long with much more confidence
nice shake out below prior days balance
then it had problems to go higher and was unclean
Had to leave for an appointment and left trade in
Loosing day
Condition 1
we have overlapping balance areas or one big one
Looking at the last 2 days we have gap and singles (excess) followed by sideways consolidation (balance)
Condition 0
whole eth is in that mentioned short term balance (grey rectangle on tpo chart)
Ugly day with misleading mgi (market generated information)
Break lower looked good with good volume
but retraced very far
Made a new low with little range extension
retraced again nearly 100%
but then again made a new low
This is not what a break on day 1 should look like
