Is this the setup we've been waiting for or a clean fakeout?
Look how $B2 just broke out of that tight consolidation range around $1.11 yesterday. That was a nice volume spike, too. But the pump up to $1.30 got smacked down instantly. That’s a huge area of supply. Now, we're building another base right on the key breakout level of $1.15. See those little green candles stacking up? That's accumulation. If this $1.15 holds as a new floor, we go back and challenge the $1.30 resistance again. That's the trade. If it drops back below the old range at $1.11, this was just a quick run to clear out shorts and we are back to square one. Patience pays here.
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Is this the setup we've been waiting for or a clean fakeout?
Look how $B2 just broke out of that tight consolidation range around $1.11 yesterday. That was a nice volume spike, too.
But the pump up to $1.30 got smacked down instantly. That’s a huge area of supply.
Now, we're building another base right on the key breakout level of $1.15. See those little green candles stacking up? That's accumulation.
If this $1.15 holds as a new floor, we go back and challenge the $1.30 resistance again. That's the trade.
If it drops back below the old range at $1.11, this was just a quick run to clear out shorts and we are back to square one. Patience pays here.
#B2 #CommercialTradeConsensusReached