Another beautiful spring example caught in my backtesting
Here we have been going down for a while, but in a slow fashion (daily).
So it is slowly accumulating and building up energy before breaking free and taking out all the stop losses that was left during the slow down move.
Here you can see the entry better on the 1H and why I put my entry and SL at these areas:
Taken in March 2017
Here is the daily clearly showing the falling wedge:
And here we can see the POC and imbalance to the left more clearly on the 1H chart:
So it is slowly accumulating and building up energy before breaking free and taking out all the stop losses that was left during the slow down move.
Here you can see the entry better on the 1H and why I put my entry and SL at these areas:
Taken in March 2017
Here is the daily clearly showing the falling wedge:
And here we can see the POC and imbalance to the left more clearly on the 1H chart: