Prices dropped back down to the demand zone and a 50% retracement and had a liquidity clearout of all the hammers. Using VSA prices came back down to test the ultra high volume hammer and the result is low volume which means the supply has dried up and prices should reverse. Target is the VWAP and trendline after it triggers all the buy stops.
If the week closes at the VWAP, I expect a pullback the following week. If we find support on the pullback, I will be expecting a short squeeze on the breakout of the down trendline.
If the week closes at the VWAP, I expect a pullback the following week. If we find support on the pullback, I will be expecting a short squeeze on the breakout of the down trendline.