My prediction for Monday (or for Tuesday, if Monday turns out as a low-action flat day).
Candle nr. 1 seems like a huge buying candle, but there wasn't enough accumulation preceding it. The market has no cause to be bullish, so I think there was a lot of hidden selling inside, even though the market made new highs after.
Now candle nr. 2 has a much smaller range, but the volume is almost as high as nr. 1. SM could have sold into the NFP herd's buying frenzy, with the next candle it formed a 2BR aswell. If SM would have wanted to buy, they would have drive down the market before and during NFP, and buy up the selling.
So regarding trading setups, there could be an upthrust at the level, where the upper blue arrow is, then enter on a ND. Another entry could be, if the price goes down, breaks the support level, and gives a ND either after the break, or after a retest of the lower level.
EA is the cleanest, but this scenario applies to GU and GA aswell.
Candle nr. 1 seems like a huge buying candle, but there wasn't enough accumulation preceding it. The market has no cause to be bullish, so I think there was a lot of hidden selling inside, even though the market made new highs after.
Now candle nr. 2 has a much smaller range, but the volume is almost as high as nr. 1. SM could have sold into the NFP herd's buying frenzy, with the next candle it formed a 2BR aswell. If SM would have wanted to buy, they would have drive down the market before and during NFP, and buy up the selling.
So regarding trading setups, there could be an upthrust at the level, where the upper blue arrow is, then enter on a ND. Another entry could be, if the price goes down, breaks the support level, and gives a ND either after the break, or after a retest of the lower level.
EA is the cleanest, but this scenario applies to GU and GA aswell.
Price and volume reveals everything. The market moves on supply and demand.