@Fiat_Hater Two ways to look at it, fake demands can be created from the First opening hour of NY or the whole NY session depending on the timeframe and context.
$Virtual short.
- NY open took out the highs
- 1m BOS right after NY open
- Distro to take out the lows for a potential Macro accumulation
https://t.co/vvBRmDqkZn
@Fiat_Hater You couldn't move your SL on this situtation, like you said, supply left so can always come back for it and continue back the expected order flow.
If it got mitigated and broke strucute back to bearish then I would've moved my SL to the last point.
$Virtual Trade management - Update
- TPed 75% before TT due to BTC hitting Key MM demand(can have a major reaction)
- Rest 25% stopped
https://t.co/plVB8vTvM6
$Virtual short.
- NY open took out the highs
- 1m BOS right after NY open
- Distro to take out the lows for a potential Macro accumulation
https://t.co/vvBRmDqkZn
@Fiat_Hater True this, saw the setup on Lar's stream which he had a bias BTC would likely take the lows, also with the FOMC potential manipulation grabbing the highs first.
Was expecting a move down with the local distro to take the $$$ trail below before reversing.
yo, good point.
There were few demands below including the 5m OB you mentioned.
In a normal situation I would do the same as you and wait for the mitigation first and see how it reacts.
But those demands formed during the FOMC which could mean they are fake demands trying to grab the $$$'s above before reversing (manipulation).
@davincicuts Yeah agree, not the best.
If it creates a nice RTZ from here to 3rd tap with a local model forming, then I would defo give it a shot.
Or it could form a better range using the 2nd tap as 1st.
Lets see how it develops.