Follow up. Greater than .75% move.
Sources of education:
Tom Williams Volume spread analysis VSA/ Master the Markets
Pete Faders VSA* Sam Seiden (supply and demand)
Read the ticker dot com
Element 15 trades (bitchute/odessy)
Avoid buying into weakness/supply/resistance
Avoid selling into...
RSI already below the centerline. Projection was traced using the plot drawing tool.. I used the last reaccumulation pattern to the left.
Its also now above the daily 14 EMA so I am just looking to go with the uptrend when and if the volume situation lines up.
Using previous demand zones as entry targets. Previous supply zones as potential profit taking...
Note the sell pressure at the current price level.... very light.
Looks bullish. However as a trader you wait for retracements. In my opinion it shouldnt need to reach teh 25 level on RSI. I think we will see re-accumukation at or just below the centerline on RSI (1 hour). RSI is set to 7 (not 14).
Was listening to Peter Schiff on Odyessy and he mentioned oil...
These massive pressure gaps occur on Saturdays and Sundays. Which sorta makse sense that the bots would be off. All major trading takes place Late Sunday into Friday.
We are in thet zone now (absent volume). Basically the market will oscillate until SM comes back to work on Monday.
As usual, look for their presence at previous key demand zones and try not to...
Still looking for longs. Getting pretty high. If you follow me you know my take on buying this close to supply zones.
I think the supply looks light and expect a move into new high ground. I want to see if it gets weighed down bu profit takers here at this previous supply area. Once that clears will see if it pulls back for a retrace in re-accumulation.
Will have to see what happens next week but you can see the lack of pressure in this current mark-up.
The closer the candle closes to the top generally means its running into less selling which means the mark-up can continue until it meets thats pressure.
The length of the wick is a major clue. This applies to either side of the candle (Supply or demand...
They telegraphed their intentions pretty clearly. Like i mentioned in the previouis charts you can see the extremely high demand spikes/stopping action. You always want to avoid selling into strength and buying into weakness. Strength tends to appear around previous demand zones/support. Weakness tends to appear around previous supply zones/resistance. Use...
Stuck in a range but looks liek it could attempt a mark-up.
The supply pressure looks low here. The weak hands are almost shaken.
Looking for a bear trap/fake out to the downside as the final confirmation. Examples of a bear trap at support are circled.
Notice what happened as it ran into that supply area... look at what the reaction was last time price was in this area... no demand/no buyers to hold it up. Look at the volume there.
as usual, looking for re-accumulation at previous demand zones.
See how it set that trap? (green triangle). Fake up to the upside. Upthrust/bulltrap.... Thats a variation of what it looks like. They are easy to identify because of one simple rule: a bulltrap will occur high usually right above resistance... which is why you don't ever want to just jump in.
Wait for the pull backs with evidence of buying. If looking long, look...
Supply looks very light compared to the accumulation that got it here. Be aware of the imminent supply zones. Those zones can trigger a reversal if the supply is right... which we will always see using volume.
Never chase! When you open teh chart and proce moved 15+ % and you missed it, you missed it... let it go. 99% of traders will see price is already this...
Looks like they are positioning here as well...
Will have to wait until next week of course. Will see Monday or Tuesday if they commit.
But this double bottom with a bear trap (spring) is usually a bullish pattern. We will have to see.
Take a look at the daily and you will clearly see that its been stuck in equilibrium for some time (approx 23 days).
In this situation you are best to set alerts at the extremes of the trading range (as i have done with the red and green horizontal boxes). When and if an alertis triggered you can check to see if a intraday set-up is materializing.