Weekly [08/05] Study
I am currently comfortably Short from Higher (Pivot : 20075 : 50% Position).
Within Two (2) Scenarios I’ll be looking to add back my trims expecting Lower Targets to Hit.
Sellers will Flush below 19040~ and continue downward Pressure.
Month End Algos mark up Price and form a Sellable (false) Rally to Open Lower.
Spoiler : We got both scenarios, and both adds into Profit
Sellers will Flush below 19040~ and continue downward Pressure.
Minor : 19350 : Remains the Swing High before a -650p drop in RTH. This carries Price to, and beyond our Short Target, placing a New Weekly Low at 18720.
This activity completes our first sequence of adds into an existing Swing, and as a bonus : Invites an upward auction off Fresh Lows.
Month End Algos mark up Price and form a Sellable (false) Rally.
As the Market Closes into New Weekly Lows, this invites a well timed opportunity for existing Sellers to Take Profit : Allowing for a monster (false) Rally to clear the book Overnight.
This is the same rally that established footing for my next add-sequence to begin.
Auction Theory can be seen in many ways. This example is nothing new to SetFeed. Price was at a point that was deemed unfair. Price then travelled into new lows to seek a Buyer. A buyer was found and ran into the underlying Seller controlling the Auction.
Price then made another set of Weekly Lows. This is just an auction.