QKC/BTC Pushing into the resistance, possible 9% move IF BROKEN
I see that SFP down there (white line), which suggests that stops were taken.
We're now pushing into this bearish orderblock and since we're consolidating inside of it, there's a chance to break it and go for the highs.
The strategy is to enter on the retest of the block only IF it breaks first.
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Colors I use for a more organized chart:
15 min - Cyan
1H - Gray
4H - Red
Daily - Green
Weekly - Orange
Some terms for clarification:
-Bullish breaker - an orderblock (a green or red candle, in this case green) that preceded a move that took out a previous swing low, but was later nuked through. If the price comes back to that block, it is expected to act as support.
-Bearish orderblock - a green candle that precedes a fast move that takes out a previous low
-SFP - Swing failure pattern - a candle formation where the price takes out a previous swing high or low, but returns under/above it before locking the candle. Under the right circumstances it can signal a reversal.
Original idea by Svarog
We're now pushing into this bearish orderblock and since we're consolidating inside of it, there's a chance to break it and go for the highs.
The strategy is to enter on the retest of the block only IF it breaks first.
--------
Colors I use for a more organized chart:
15 min - Cyan
1H - Gray
4H - Red
Daily - Green
Weekly - Orange
Some terms for clarification:
-Bullish breaker - an orderblock (a green or red candle, in this case green) that preceded a move that took out a previous swing low, but was later nuked through. If the price comes back to that block, it is expected to act as support.
-Bearish orderblock - a green candle that precedes a fast move that takes out a previous low
-SFP - Swing failure pattern - a candle formation where the price takes out a previous swing high or low, but returns under/above it before locking the candle. Under the right circumstances it can signal a reversal.
Original idea by Svarog
