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After a rally in price, we’ve seen some strong rejections whenever the price tested this new level, which I have marked it as a Supply Zone(where majority of sell orders sit) on the chart. And now price is coming back for another retest. It’s been in an accumulation phase from past few days and volume profile shows that a lot volume has been traded. I think they are preparing for the sell. If they manages to break the previous level of support, I believe we would see some aggressive selling.
Thank you for your support, I appreciate it.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
After a rally in price, we’ve seen some strong rejections whenever the price tested this new level, which I have marked it as a Supply Zone(where majority of sell orders sit) on the chart. And now price is coming back for another retest. It’s been in an accumulation phase from past few days and volume profile shows that a lot volume has been traded. I think they are preparing for the sell. If they manages to break the previous level of support, I believe we would see some aggressive selling.
Thank you for your support, I appreciate it.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
