Impressive momentum move on cryptos today, not sure what is pushing it. Will try to find it out might be worth putting notice to some continuation plays. That was some heavy mass of capital flying in, must be a reason for whoever was paying that at market price. {image}
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Looks like we have number now. 1.5 billion in 2 hours. Record high. When capital inflows are peaking record highs thats usually a sign of healthy bullish market, when capital outflows are reaching record highs thats a market with a downhill run on the go.
Bullish example: crypto
Bearish example: Russia
Great symmetry, I actually took the trade off the 5 min engulfing bar as it looked like it was a really strong clear out. I know you would normally wait until demand is taken out to get into this trade but just though I'd test it out {image} {image}
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Decent trade overall, spike trough that demand zone. Just a tip, rather scale to lower TF for that structure to have more candles in structure and better volatility precision.
{quote} What are your criteria for a momentum move requirement? It showed 3 moves into supply, the last 2 stronger the rejections.
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Generally what you want to see is strong move into supply that is very quick, a quick moves on M1 initiated in middle of structures are usually fat orders comming trough and thats where you want to be. A momentum move should be obvious to see as it should be strongest leg inside whole structure.
For example USDCAD (slightly asymmetric setup but just to prove the point):
And even if its not due to single player, and its actually multiple actions providing the move it doesnt matter its the same principle.
(binned per thread starter's request) Market bottom rotation trad
