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
--------------------
1-23-2024 Strong downtrend with RED TrapZone established for days now. Price is retracing a bit with GREEN UMVD coming in now. Bunch of Trapped Buyers !
Comment
⋅
Hourly chart analysis - Gray Bars at the moment
Comment
⋅
RED Coming back in after Divergence at the moment
Comment
⋅
Latest - DOWN Trend with RED TrapZone Continues
Comment
⋅
Comment
⋅
Hourly Check In - Prices is flirting with a KEY Level. RED TrapZone & RED UMVD - Down pressure is on. Market closed with a GRAY Bar !
Comment
⋅
Latest Intraday
Comment
⋅
Latest Intraday
Comment
⋅
Side By Side Analysis - RED UMVD pulls the prices back under the RED TrapZone. It may start sliding again to continue the hourly trend
Comment
⋅
Waiting for RED on RENKO UMVD for another move DOWN !
Comment
⋅
Buyers came in and took the Prices higher. Transition point ? Green TrapZone is Yet to Form - usually leads to fast Retrace back down,
Comment
⋅
Showing examples of Class A & Class B entries on this chart for reference using the TrapZOne Pro tool. Up Trend is Intact and Buying keeps supporting the price
Comment
⋅
Hourly Technical Analysis Check In Uptrend has been supported by Angle one for a very long time. The recent angles up to 4 are very steep and there fore a retrace can occur at the break of that trend line. Keep an eye on the UMVD for clues.