Long $BSMX Day 19 Analysis

Today was a good call from yesterday’s game plan. I was pretty much right on the money. It had a gap down opening, which recovered pretty quick and the volume was around the same as yesterday. The only thing was it didn’t close green. It traded green for a while after the recovery, but ended up closing even.

Weekly Scorecard
CostCloseChangeTargetHighTarget%
$10.18$10.392%$15.00$10.7011%
This week looked like a manipulated MM low volume test. Hopefully it is preparing to move out of this area and start trending higher.

micro analysis

Here is today on the 15 minute chart. The last few days have been more volatile during the day without much price change at the end of it. Today was the most volatile of all. With all the drama today it ended with no change.

This still feels like its being manipulated to me. I think MM’s are moving the price around trying to do what they do, make a market. I highlighted six candles in the morning and six candles in the evening. This could be a coincidence, but it looks a little orchestrated. If you take the volume of each candle set, they almost look like a mirror image of each other.

If it is manipulation or not, I like that the first set went up much more easily than the second set went down on similar amounts of effort.

macro analysis

Here is today in the context of the last five days. Other than today, this was an all red week. Today just about gapped down to the upper trend line again, but mover right back to where it started.

The volume was a little less than yesterday, but the candle spread was much larger to the upside. This agrees with the micro analysis.

I like the longer green spread and that it recovered and closed above the upper channel line and the 20DMA. I’m not sure I like the upper wick on the candle though.

global analysis

Here is the weekly. This week ended looking good. That really low volume and hammer candle support my idea of manipulated low volume test. The MM’s were moving the price around looking for supply. It looks good going into next week.

tomorrow’s game plan

Interest has been pretty low since it moved out of the trading range. MM’s appear to be trying to create some. The price needs to start moving away from the old trading range and start trending. Perhaps this week’s test was in preparation of doing that.

I think we start moving out of this area Monday on increasing volume.

 

 

 

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