$MOVR
Answer,
Opening a trade by referencing previous price action patterns could be misleading.
We are currently in the gap between the US close and the Asia open (in terms of time zone). The Asia market will be making its last trading session of the week and will then enter the weekend holiday at the close. Institutional capital flows may weaken. Whale and market maker traps will increase. I’m thinking of waiting for about two hours. Although the main direction is likely downward, I expect a retest; depending on whether it succeeds or fails, I can open a trade.
#QNT I opened short positions between 6 and 8, and they closed with a bit of profit. My plan was to enter short with a test above $300 (if conditions form). The screen was off. It already tested. It may now be riskier. In the previous upward move, a long wick formed at the top (374$). That was market maker activity. They were targeting that liquidity.
#BTW An asset manipulated by the market maker and whales. There’s no volume. Automated/robot trading is dominant. I had put this asset on my blacklist. During the Asia close–London first session opening, it might be worth watching.
In the charts, when we look at these three assets except #BTC , the MA is interesting. When I calculated the average, downward movement seems inevitable. It could be useful to wait for the conditions to form after the retest. Because low liquidity can cause aggressive moves in the opposite direction. These and similar assets have drawn capital. That capital may not return to BTC soon. There’s also a possibility of a price correction in BTC for the weekend.
My plan is to wait for a retest during the Tokyo and Hong Kong trading hours. Without a retest, they can continue downward as well (due to the weekend effect). Q&A is done; this is not investment advice.
#xau #eth
Answer,
Opening a trade by referencing previous price action patterns could be misleading.
We are currently in the gap between the US close and the Asia open (in terms of time zone). The Asia market will be making its last trading session of the week and will then enter the weekend holiday at the close. Institutional capital flows may weaken. Whale and market maker traps will increase. I’m thinking of waiting for about two hours. Although the main direction is likely downward, I expect a retest; depending on whether it succeeds or fails, I can open a trade.
#QNT I opened short positions between 6 and 8, and they closed with a bit of profit. My plan was to enter short with a test above $300 (if conditions form). The screen was off. It already tested. It may now be riskier. In the previous upward move, a long wick formed at the top (374$). That was market maker activity. They were targeting that liquidity.
#BTW An asset manipulated by the market maker and whales. There’s no volume. Automated/robot trading is dominant. I had put this asset on my blacklist. During the Asia close–London first session opening, it might be worth watching.
In the charts, when we look at these three assets except #BTC , the MA is interesting. When I calculated the average, downward movement seems inevitable. It could be useful to wait for the conditions to form after the retest. Because low liquidity can cause aggressive moves in the opposite direction. These and similar assets have drawn capital. That capital may not return to BTC soon. There’s also a possibility of a price correction in BTC for the weekend.
My plan is to wait for a retest during the Tokyo and Hong Kong trading hours. Without a retest, they can continue downward as well (due to the weekend effect). Q&A is done; this is not investment advice.
#xau #eth
