DislikedBeen taking it easy lately as it's the vacation season.
Firstly a side note - plenty of people moan about trading at this time of year - as traders we have to adapt to different trading conditions and summer trading can still produce great setups if you know how to adapt...the people that can't, moan, the people that can make money.
I took a short on Dow today (which I'm still in). I took the setup on the rolling but the same setup exists on the futures. I've marked the trades I'm in on the futures chart (as most have access to futures but...Ignored
2. Price might react further into the supply zone, so you would give it more time/space. The way price moved up looks like a CP.
3. Pattern-wise, its a clear triangle and is confluence with mini supply there can see the reaction at that zone, price is literally pushed down. Again,CP on the way up.
4. Stops are accumulated below the 13106. We have three bounces, meaning there should be some decent amount of stops from people expecting the support to hold and break long. 'Vacuum' below the stops. Stops tripped and price moved down with good momentum.
5. Not much raction at the demand as it seems stops are hunted below the demand and bids are weak. If bids are strong, should expect price to have at least a decent reaction. It closes below support which should be good signal for more bearish. Maybe you are expecting demand turn into supply scenario.
Overall it looks like it is forming a HS pattern on hourly.
Sorry for the typo, on mobile with limited chart capability.
