This is a Thread, so Follow for Technical Analysis performed with TrapZone Pro & UMVD Indicators.
* Trend is Based on TrapZone Color * Bar Colors give us Momentum Green from strong Up Moves. Red Bars point to strong Down Moves. * Red UMVD = Selling Pressure & Green UMVD = Buying Pressure. Purple is for Divergence = Battle of Supply & Demand
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1-16-2024 GREEN TrapZone with RED UMVD. Price sliding as US MSI also points to weakening in the market. Hold On to You Hats I Say :)
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1 second Renko setting
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Hourly Chart Strong RED TrapZone, Red Bars Just showed up now. I think we will see RED UMVD today as you saw in the intraday setting chart above.
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Daily shows Price is back inside Green TrapZone with GRAY Bars, so No doing nothing on this time frame.
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Latest - Red TrapZone, UMVD now has divergence will wait for color check after that. Price is at Bull Trap Location
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GREEM TrapZone is saying Prices will go higher. We have RED UMVD at the moment after divergence which typically means selling pressure has started. SO keep an eye here
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Price action is very TIGHT LIPPED, we are still over a GREEN TrapZone with Divergence in UMVD at close.
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RED TrapZone with RED UMVD stated again. Its slow but there its :)
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Hourly Check In - Prices rose and GREEN TrapZone formed with the help of GREEN UMVD. Now RED UMVD brings the price back in the TrapZone for a retrace. Bars colored GRAY so - no upside momentum yet. wait for GREEN UMVD and GREEN bars for continuation to the up side or it may retrace deeper.
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Latest Intraday
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Latest Intraday
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Side by Side analysis - Prices came back to RED TrapZone - classic place from when a DOWN trend may starts. Keep an eye on the Short term Renko for RED TrapZone to confirm the down trend with RED UMVD.
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RED TrapZone just started print, watch for a Class A entry on the hourly below the RED TrapZone
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Strong down Trend had some retrace with few Buyers pushing the price higher. Sellers attacking again now.
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Retrace is in progress. 1 wave complete. Trend is still down
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Hourly Technical Analysis Check In Long Long Term Trend is at angle 11 and has not been touched for years now. Down trend is the short term trend with angle 2 formed now. Will also post the Daily for a better view of the long term trend.
gap above? do they normally get filled immediately?
SnowflakeTrader
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@Allure016, WHEN the Gap Starts to get filled, You will see first see it in the Price BARS - They will turn GRAY ! sometimes will turn RED as well. You can see that happening on the Hourly and Daily charts clearly. "Immediate" is bit misleading as in WHEN You see the Gap or something. Hope this helps.