So much to talk about in 1 chart!
NYSE:KO , 5min
At 3:15pm Friday, we finally broke value for the week, then month, and year, down to take out two VPOCs (weekly and daily).
Great example of how price obeys #MarketWebs across timeframes!
VPOCs act as magnets for the market. They are where price and volume were most active in the past and the market remembers these levels. Often price will reverse from tagging these levels.
They're great for trade targets or for trade entries with limit orders.