Since the sell-down from the distribution supply zone, which was triggered by the 2B short I posted in the Synapse Network forum, price has been pushed down to the support zone, where the next likely behaviour is to accumulate. This has manifested in a long-tailed pin-bar, a result of professional stop-hunting. I am not too concerned about its exact shape or pattern, as the key idea here is the underlying psychology.
Having flushed out the weak holders, I have taken a long position to catch any upside swing to the targeted zone above. There will be FOMC and NFP later this week, so much volatility is expected. Trade with care, and trade with understanding. Good luck!
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Hi, Spencer here! 😀
After making my first million at 28, and trading & teaching across 60+ countries, I have consolidated my knowledge and experience to create the most comprehensive & practical guides for profitable trading, compiled from thousands of books, websites, courses, and interviews with professionals.
As a former professional trader in private equity and proprietary funds, I have over 15 years of market experience, and have been featured on more than 20 occasions in the media.
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