Find support and resistance based of off efforts earned and the manipulation around them over multiple rejections and these areas that becomes important on the chart become easier to define.
From the price made a local max high …
Define these efforts. Why?
The sc is what stops the trend.. there is efforts present to do so . ‘Someone’ must apply breaks to stop a moving car - note this shift.
The st is the max high after a moves stops in the opposite direction. The response from the ‘someone’ that stop the moving car. As how far did they manage to move against the trend halted by the sc.. note this shift
As now we have two points of interests based off of both sides efforts
At 1 we see high tail a pullback and then a break up to 2 making another high tail
That sold and stop at the hightail at 1 thus the market broken n retest this area and was real support and resistance cuz we see the manipulation and efforts to cross the zone which is now seen our support and resistance
At 2 price made the high that retraced below the max high of the st from a Utad.
Remember Utad are false breakouts above a pervious st. Remember the st is the high after the retracted sc.
so price stopped from the downtrend - sc made a max high - st price broke the st and retraced below the st- Utad.
The Utad
In one continuation move price from the Utad broke price below the support resistance line
We see the support and resistance area here again being used as sellers pullback to it and then placed price at the up trend line right after we see sow
After the sow( signs of weakness) in a up move at support.. the support that makes the sign of weakness is the support made the sc. remember the sc is a Buyers move that makes supportive trend lines the sow happens after an Utad as the Utad makes the buyer from the uptrend line weak . Hence signs of weakness.
At 3 we see the most important thing revealed..
we see a retest of the sr area at ny York opening. What happen? These are the things we need to pay attention as price went up and then immediately down from the sr area an area we see efforts and manipulation around in which it happen again. This time price did a bearish doji closing the body( price for that candle ) below the uptrend this is seen in the eclipse.
After 3
We see price being rejected from getting above the uptrend line this is also seen in the eclipse
Volume with price
(A) vole spike a buyer climatic move to the Utad where we see extreme low vol meaning low vol at a high above the max high thus showing lack of volume to go high.
From the Utad volume and price we have a uptrend in volume as price is dropping from the Utad (1) increase the probability of shorts. Thus 3 can be a valid stop loss zone and if the bears will drop price here this is the area they’ll keep price out of rn if buyer take it or even retest it then higher price is the probable outcome
From the price made a local max high …
Define these efforts. Why?
The sc is what stops the trend.. there is efforts present to do so . ‘Someone’ must apply breaks to stop a moving car - note this shift.
The st is the max high after a moves stops in the opposite direction. The response from the ‘someone’ that stop the moving car. As how far did they manage to move against the trend halted by the sc.. note this shift
As now we have two points of interests based off of both sides efforts
At 1 we see high tail a pullback and then a break up to 2 making another high tail
That sold and stop at the hightail at 1 thus the market broken n retest this area and was real support and resistance cuz we see the manipulation and efforts to cross the zone which is now seen our support and resistance
At 2 price made the high that retraced below the max high of the st from a Utad.
Remember Utad are false breakouts above a pervious st. Remember the st is the high after the retracted sc.
so price stopped from the downtrend - sc made a max high - st price broke the st and retraced below the st- Utad.
The Utad
In one continuation move price from the Utad broke price below the support resistance line
We see the support and resistance area here again being used as sellers pullback to it and then placed price at the up trend line right after we see sow
After the sow( signs of weakness) in a up move at support.. the support that makes the sign of weakness is the support made the sc. remember the sc is a Buyers move that makes supportive trend lines the sow happens after an Utad as the Utad makes the buyer from the uptrend line weak . Hence signs of weakness.
At 3 we see the most important thing revealed..
we see a retest of the sr area at ny York opening. What happen? These are the things we need to pay attention as price went up and then immediately down from the sr area an area we see efforts and manipulation around in which it happen again. This time price did a bearish doji closing the body( price for that candle ) below the uptrend this is seen in the eclipse.
After 3
We see price being rejected from getting above the uptrend line this is also seen in the eclipse
Volume with price
(A) vole spike a buyer climatic move to the Utad where we see extreme low vol meaning low vol at a high above the max high thus showing lack of volume to go high.
From the Utad volume and price we have a uptrend in volume as price is dropping from the Utad (1) increase the probability of shorts. Thus 3 can be a valid stop loss zone and if the bears will drop price here this is the area they’ll keep price out of rn if buyer take it or even retest it then higher price is the probable outcome