Seems Sellers have to sign the trend first, before buyers kick in. The thing is that we are in buyers trend, but my all time I'm more focus on psychology from both parties. I make my decision for quick and very good profitable trades, but for even more I have to see what's going on with mentality on market, then we can hit even more profit or get in with even more...
I believe Bitcoin is about to take quite a dip. A double top has formed and price is now fighting it's way back up into strong supply zones which will ultimately force it lower. The 50sma is nearing the 200sma, which will soon form a Death-cross. Unfortunately there is no real demand below and I believe price will fall to around 6000.
A nice "drop - base - drop" has established a clear supply zone here on the 2 hour chart. I believe price will enter the zone and then immediately move lower as the sellers regain control.
Apple's correction is weighing heavily on the drop in the indices this week. A few demand zones on the 1hr chart have already been chopped up by the momentum of this move, but let's see what happens if price enters this nice strong demand zone around $162.20.
Nice fresh demand zone here on the 60min chart. Cautious about AVGO being in a strong down trend on higher time frames though. This move offers about a 7:1 reward to risk so I'm still interested with a slightly smaller position size.
Confidence in the semi-conductor industry thanks to the blockchain boom, regardless of whether this zone holds or not. Let's see...
Awesome opportunity to go long here if DKS pulls back to the LTF Demand Zone. Yellow line indicates where price fell from after poor Q3 '17 earnings (no real supply here). If price breaks the line, I believe it will continue right on up to the LTF Supply Zone, making for another great opportunity to join this strong up- trend.
I believe their may have been some institutional buying of Litecoin between $240 - $255. The zone is no longer fresh but has only been tested once, with price rapidly leaving the zone. I'm a buyer at $255.
Demand zone identified here on GE. I used the 5min chart to zero in my proximal and distal lines. The zone has already been eaten into once but I'm confident that there are plenty more orders down here waiting to be filled, given the speed at which price has left this zone. I'm a buyer at $17.51.
This decision began with a look at the broader market on the Daily time frame. SPX was clearly up (retail levels) so I knew to begin looking for a selling opportunity. I then browsed through the sectors, noting that Telecoms were the largest % gainers (in line with the SPX direction). I looked up and left to find where price began it's last powerful descent, then...
Still experimenting with Online Trading Academy's Supply and Demand strategy. I realize this doesn't exactly qualify as a fresh level but there were undoubtedly a HUGE amount of institutional buy orders placed around $45.10. Let's see if there are still some waiting to be filled down there as BPL approaches the level over the next few days.
Experimenting with Sam Seiden's, Supply and Demand zones. If I've correctly identified what Sam refers to as "Fresh Demand", we should see buy orders filled down here, driving price higher.
