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
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1-17-2024 RED TrapZone with Divergence after Green UMVD. Lets see what shows up after the divergence on UMVD.
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Intraday Settings - 1 second Renko
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RED UMVD keeps pulling the prices down. GREEN TrapZone and RED UMVD means conflict. Confirmed with Gray BARS
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Daily Analysis
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GREEN TrapZone and GREEN UMVD at the moment. Prices are in a Range so Will have to wait for momentum.
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GREEN TrapZone may show up soon. we have GREEN UMVD pushing the prices up.
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RED TrapZone = DownTrend. UMVD in Divergence though ...lol
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Selling is resuming with RED UMVD and RED TrapZone forming again.
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Hourly Check in - Prices formed a RED TrapZone with RED UMVD pulling the price lower. Currently bounced from the key support level back close to the TrapZone. Very typical - to Trap Buyers.
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Latest Intraday
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Side ways at the moment
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At the moment
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Side By Side Analysis - Bulls Brought back the Up swing. Currently the TrapZone is RED BUT FLAT. So its a Pause.
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Bulls are in control, selling is not having the desired effect. Careful - UMVD is building a divergence. If we Get GREEN explosion :)
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Buyers kept coming and Here we are. Class B entry on Hourly is CLass A entry on the Renko ! Time for a Retrace, Hr Bars are GRAY so UPside momentum is not there.
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Short Term Profit taking in the recent sessions. Long Term Trend is Strong with WIDE TrapZOne
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Hourly Technical Analysis Check In Angle 6 is close by as support for the Up Trend. You can see eth current retrace started around 23rd Feb with RED UMVD. I believe the Reputational Risk is going to derive the customer base to private sector banks after all...