DAMUSDT: Long setup from daily resistance at 0.08568

12 сент.

The level is formed by an anomalously large bar from 09.09. Its strength is confirmed by the price stopping just below it on the local timeframe and entering a consolidation. I expect minimal volatility before the level and a continuation of the consolidation. If the consolidation is short, a strong breakout may not occur, resulting in a false breakout.

Scenario:

• Price void / low liquidity zone beyond level
  
• Volatility contraction on approach
  
• Immediate retest
  
• Prolonged consolidation
  
• Repeated precise tests of the level
  
• Consolidation with price compression
  

Do not open a trade if the scenario does not play out.

Do not open a trade solely because the price is crossing a key level, even if it is very strong. Pay attention to how the price crosses the level.

The Trader's House

12 сент.

Сделка активна

The price has crossed the level, and I am observing the reaction to this false breakout. If a correction occurs, the trade will be invalidated. If there is no deep correction, it will be another signal for a level breakout, and it is worth waiting for my entry point.

12 сент.

Заметка

Volatility has increased, and the asset quickly approached the level, which contradicts our scenario. I continue to observe, as the asset has not yet started a correction. An entry opportunity may appear on the second approach if it occurs with low volatility.

13 сент.

Заявка отменена

The second approach to the level was also with high volatility, which contradicts the scenario. Therefore, after the second false breakout of the level, we now have a full-fledged "запил" (choppy price action) at the level, where there is no specific price for an entry or stop loss. I am no longer observing the asset.

15 сент.

Заметка

Those who continued to observe the asset could have gotten an ideal long entry point at the local level: 0.08779.