✈ Friday Flight Log – 30 August 2024

ICYMI: The Trade Travel Chill Weekly Recap

After two weeks of consolidation in anticipation of Powell’s speech at Jackson Hole, we FINALLY taxied to the runway and took off out of the retail triangle… only to fall straight back through! It’s like we packed our bags for Bali but ended up circling back to the gate. Let’s hope next week the MM actually takes us somewhere. Until then, enjoy your weekend, don’t forget to touch the grass, and enjoy this look back at the week that was.

💸 TRADE

👩‍✈️ From the Flight Deck

Captain’s Log ✍

Did you catch all of Annii’s TA this week? Let’s check!

• Last week’s move up on daily timeframe after Powell’s speech didn’t bring increased volume, and Annii was right about it possibly being a false move to trap longs into the weekend.
• On Sunday, Annii identified a Trapping Volume Formation and said if trapped traders remain trapped, price should head down. ⏬
• And… Bitcoin dropped about $4,000 in the first part of the week, giving everyone quite a scare, and recovering all of the upside we built on Friday.
• In her mid-week update, Annii explained that the absence of a significant news