Monologue from a trader (Kardec Trader) analyzing an intraday market in a range around fair value. The speaker highlights aggressive selling into a balance area, sellers failing to follow through, and the possibility of a breakout or a risky buy-from-discount within the next ~20 minutes. The speaker also notes larger players are positioned to defend price and that market structure remains overall bullish despite seller aggression.
Chapters
We are here, we are stuck in a range, we are on fair value. Before we reach to do a recap, we saw this punch to the wall. The aggression of the seller, the follow up to the balance area. And now there is the first piece of information that we can get is this bunch of aggressive sellers without follow up, getting to the discount level, getting back inside the range. So this high for the day, something that will get destroyed probably at the beginning of the market open. Because the structure that I see now, even if I have the information that sellers are getting aggressive and building up here, the structure of the market that we need to forget is still bullish. And as you can see, this is the level where the majority of aggression is getting. This is the level where sellers are getting really aggressive. In 20 minutes we have the first setup. Probably that can either be breakout here, breakout and test if the volume is supporting it. Otherwise we can get a buy from the discount. But this will be more risky. From here you can see that they are starting to fight. From the data that we have seen here, the size of the bubble is controlled by sellers. So they are winning the battle. But we need to remember that we have these big boys here ready to protect the price. If we are going to get really long, this eye needs to be taken before 20 minutes.
