Gold Accumulation phase
THE STORY OF THE DOJI:
A large institutional player attempted to orchestrate a stop hunt, creating a false sense of market direction to trigger stops and ignite a sell-off. However, the subsequent price action revealed their hand.
The Doji candle at the support level indicated a loss of conviction among sellers, while the slow distribution and step-like pattern suggested a more deliberate and calculated market behavior.
The bullish candle that formed at the support level, particularly after the attempted stop hunt, implies that the market is rejecting the lower prices and that buyers are absorbing the selling pressure.
This price action suggests that the institutional player's attempt to short the market may have been unsuccessful, and that the market may be poised for a reversal or a continuation of the uptrend.
All based on my observational bias
A large institutional player attempted to orchestrate a stop hunt, creating a false sense of market direction to trigger stops and ignite a sell-off. However, the subsequent price action revealed their hand.
The Doji candle at the support level indicated a loss of conviction among sellers, while the slow distribution and step-like pattern suggested a more deliberate and calculated market behavior.
The bullish candle that formed at the support level, particularly after the attempted stop hunt, implies that the market is rejecting the lower prices and that buyers are absorbing the selling pressure.
This price action suggests that the institutional player's attempt to short the market may have been unsuccessful, and that the market may be poised for a reversal or a continuation of the uptrend.
All based on my observational bias
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