Trend analysis/Building the cause in a mark-down (reference)
As part of a thorough trend analysis you can use the 1 hour to determine the condition of the current trend and how it will determine the condition of the following Mark-up or mark-down phase.
(In order to draw anobjective channel i suggest activating the linear regression indicator)
As a visual aid/reference imagine the upper line of the channel as your supply line and the lower line of the channel as your demand line.
Imagine the buyers at the bottom and the sellers at the top.
With each tap off of the demand line, how did the volume change, how large was the presence of buyers?
Same with the supply line
With each tap off of the supply line , how did the volume change, how large was the presence of sellers?
Roughy estimate what side of the equation is higher.. the buyers or the sellers?
RSI is another story . Just know that is the edges that should be of concern with RSI, not the center.
(In order to draw anobjective channel i suggest activating the linear regression indicator)
As a visual aid/reference imagine the upper line of the channel as your supply line and the lower line of the channel as your demand line.
Imagine the buyers at the bottom and the sellers at the top.
With each tap off of the demand line, how did the volume change, how large was the presence of buyers?
Same with the supply line
With each tap off of the supply line , how did the volume change, how large was the presence of sellers?
Roughy estimate what side of the equation is higher.. the buyers or the sellers?
RSI is another story . Just know that is the edges that should be of concern with RSI, not the center.
Comment:
Correction; SM isn't trying, they are actually doing.
Its easy.