Weekly; 17/05/21; price closed the week on heavy supply volume with a stop in action resulting from a move downward to the 30k area. For after dancing on the support zone the weeks after.
Which at these point we already have cues that with supply being this much in power, many more test of the 30k would likely happens before it moves up upside 42k, which it exactly did the 3 following week and would likely do it again this week by reading what price is telling us.
On the 24/05 ; It made a move up to the 40k area for getting rejected from the zone on a important absorption of demand , creating a downside hammer. For after doing the on the following week of 31/05. And on the week of the 7/06 even if demand showed some power presence and a kinda upside hammer printed, it failed to break upside 42k. And for the occurring week we can read decrease of demand at the zone, telling us that it will go again to the 32k zone. Which a maintains downside 40k-42k is giving us one more confirmation.
Will examine it again in the morning, as well a other pair. And will post this week a video on my YouTube channel about the wyckoff method and my technique of reading price movement according to volume
Which at these point we already have cues that with supply being this much in power, many more test of the 30k would likely happens before it moves up upside 42k, which it exactly did the 3 following week and would likely do it again this week by reading what price is telling us.
On the 24/05 ; It made a move up to the 40k area for getting rejected from the zone on a important absorption of demand , creating a downside hammer. For after doing the on the following week of 31/05. And on the week of the 7/06 even if demand showed some power presence and a kinda upside hammer printed, it failed to break upside 42k. And for the occurring week we can read decrease of demand at the zone, telling us that it will go again to the 32k zone. Which a maintains downside 40k-42k is giving us one more confirmation.
Will examine it again in the morning, as well a other pair. And will post this week a video on my YouTube channel about the wyckoff method and my technique of reading price movement according to volume