I personally enjoyed this trading session. Risking 2% to make a total of 8% seems like a solid return on investment for me.
ANALYSIS BREAKDOWN: initial change of character matierialised, followed by multiple breaks of structure to the upside. Price kept eliminating supply and reacting to key low timeframe demand zone.
Looks like liquidity is back in the game. strong discount into a basal demand zone on the Monthly timeframe.
the Daily time frame shows a change of character within the Monthly basal demand zone
We have bullish structural changes, confirming the validity of a bullish cycle.
Technically speaking - this one is in the prime set up for a bullish run. The timing in which the price fell into a discounted demand zone coincides perfectly with the recent stock split. The reduced price makes this stock highly attractive which should theoretically lead to more more buying interest.
The company is obviously profitable. There is a huge demand for their product. From a strictly technical point of view, this stock, along with NVDA should see a resumption of their upward trajectory here. Heavily discounted into a demand zone, which also coincides with a psychological number. This is screaming 'buy buy buy' to me.
When supply ceases to exist, demand becomes higher. The highlighted zone shows area of REDUCED Supply, not to be confused with buying (in this case, by large institutional traders). Now here is the complicated part, within that zone, smaller players are placing buy trades. When supply dwindles, demand go up and vice-versa. We are ultimately short on this pair, the...
Can you figure out the differences in the three pinbars highlighted...bearing in mind that the shape, length, or colour of the pinbar does not matter in this case.
Pinbars occur in the market as a result of two scenarios:
1) When institutional traders place large positions in order to reverse what we call a "trend"
2) When institutional traders take profit off...
price has formed a bearish pinbar after showing signs of a sell-off. there are multiple reasons why pinbar forms in the market, it is always best to understand what preceeds these candles before trading them.
Hopefully, my annotations are simple enough. It is classic Sam Seiden but with a twist from my own experiences as a trader. I entered this trade when price was in the supply zone and i will be looking to close it in the next 2 hours...depending on the candle formation.
Evidently, price is in a downtrend. "Never go against the trend" immediately comes to mind. While price is currently trending upwards on the lower time-frames, which i have highlighted by the demand zones, i will ultimately be shorting this pair once price enters Supply 2 and shows signs of a rejection. SL will be a few pips (5-10) above the red zone and TP will...