Hi Guys. This is a quick update on ETH USD trade setup for those using our Volume Trend Advisor. We had some climax selling (Strength) and found light support at the 534 area after a Volume Trend Advisor indication of strength at 519 and a climax sell which is also strength over a couple of bars. If we hold here we could get knocked sideways for a bit until we get some more volume coming in to one side or the other. If we see a move close through the 534, it could signal a move down to next area below which is 516.00 and that area would be likely stall point.
The Volume Trend Advisor (The red and green indications on my chart) indicates in real-time and cannot repaint as it uses closed price and volume analysis to determine likely changes in direction/trend. The Green icon = Strength and the Red icon = Weakness. If you have any questions regarding this fairly simple and accurate method of volume analysis, please contact us directly via PM here or via our website.
The Volume Trend Advisor (The red and green indications on my chart) indicates in real-time and cannot repaint as it uses closed price and volume analysis to determine likely changes in direction/trend. The Green icon = Strength and the Red icon = Weakness. If you have any questions regarding this fairly simple and accurate method of volume analysis, please contact us directly via PM here or via our website.
Comment:
Strength still present and target is 540 area unless something changes in terms of the volume trend analysis.