Morning coffee and the liquidation map $PAXG for 7 days. The index is around 3,921.5. Here's what I see. The preferred scenario is an upward sweep of shorts. Short clusters are at 3,975 to 4,000 and at 4,050 to 4,115.
Total short exposure is greater than long exposure across the entire range. Here's the plan. A breakout and hold above 3,950 puts the focus on 3,975 to 4,000.
Liquidations there could accelerate the rise. The reaction after the sweep will show whether the move continues or reverses. Holding above 4,000 leads to 4,050 to 4,070 and 4,080 to 4,115.
Bars are scattered between 4,010 and 4,045, so how the price holds after the first sweep is important.
Losing 3,900 without reclaiming it invalidates the bullish scenario and shifts focus to the long clusters at 3,860 to 3,890 and 3,815 to 3,845.
The largest bar is around 3,835. The main rule: don't chase a sweep that immediately reverses below 3,950.
#PAXG
Total short exposure is greater than long exposure across the entire range. Here's the plan. A breakout and hold above 3,950 puts the focus on 3,975 to 4,000.
Liquidations there could accelerate the rise. The reaction after the sweep will show whether the move continues or reverses. Holding above 4,000 leads to 4,050 to 4,070 and 4,080 to 4,115.
Bars are scattered between 4,010 and 4,045, so how the price holds after the first sweep is important.
Losing 3,900 without reclaiming it invalidates the bullish scenario and shifts focus to the long clusters at 3,860 to 3,890 and 3,815 to 3,845.
The largest bar is around 3,835. The main rule: don't chase a sweep that immediately reverses below 3,950.
#PAXG
