We have a Fair Value Gap that is presented to us in the form of a bullish $500 candle, where a portion of the candle's body has no exploratory wick or body from another immediate candle to balance price.
Liquidity
Note the liquidity in the form of buyside liquidity has been claimed also from the range high already.
We'd typically expect that with a range, that we alternate between range high and low for liquidity.
Assuming here that range low is up next
Confluence
From a confluence perspective, we have the 0.382 overall fib level resting below the FVG, that is also acting as support from recent PA
Targets
A possible play could be up for the nPOC that is just above current price, that also rests right at the 0.618 level of the overall fib move.
Confluence is key after all, and would make sense for a move like this
Conclusion
Reckon that we could see price take the range low, nab the liquidity, and ten tap the nPOC and hit the 0.618 resistance?
Only time will tell!
Let's keep an eye on this one hey?
Cheers guys
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I wanted to share this with you to show how a narrative can be built.
You know the drill, you can use this across #cryptocurrencies or any market, from $BTC, $ETH, $SOL $OMG $DOGE, hell, even $SHIB (shameless tags!)
Let's take a look:
The first key item to be drawn to here is the double bottom at range low.
Traders place their stops just below these levels, assuming that price will rise, which creates a liquidity pool which is subsequently taken out for a move upwards.
We can then see just above mid range, that a Fair Value Gap is apparent, even though price has traded close to filling this area.
I wanted to share this $ZIL trade with you so that you can hopefully learn some fundamental Price Action concepts
Here we'll explore:
- The Range
- FVG
- nPOC
- MSB
- Entry
- Psychology
Use these methods on $BTC any #cryptocurrency from $ETH, $SOL, $MATIC, $FTM $SHIB
Range:
I started off with drawing the range
You can see the notations on the drawings. Basically, I'm looking for the market structure before the sell off, and then the wicked candle that shows a liquidity tap that we assume will be run
FVG:
Then we're looking for a FVG, Fair Value Gap, where price trades through an area very quickly, leaving a 'gap' that opposite trending PA will 'fill'.
The importance of taking profit and actively managing your trade - $MATIC
Love a 5M chart bash - such quick feedback with your trading ideas, & so much further opportunity to continually refine the edge.
Hopefully this helps you.
Please share if it can help someone else too.
Price has run down, and a range has formed.
We've tested the range high with a deviation up to the bearish orderblock, but also swept some highs while we were up there
Retest of the range high occurs, which presents a great shorting opportunity with our fibs (that we've just looked at how to use on the recent vid I shared)
Target of beyond range low (as you do)
Further confluence is presented when we check the VPVR for VAH
Are you struggling with understanding directional bias and how to plan your trades out?
"Eff me dead and bury me pregnant" you say, "how does he know that?"
Well, read on for a handy dandy pick me up if you've had a directionally biased arse whooping recently
Here's you:
- You've scanned a chart for donkey's years
- A you beaut entry is determined by thou
- Your arse is clenching as you squeeze the buy or sell trigger
- You think to yourself: This will be the move that establishes you as a trader...!
....and you get stopped out.
But why? Is this a contunuing trend that you find your self in?
How about you read the 7th word in this particular tweet.
"Trend".
You know the cliche saying - "The trend is your friend"