Looks a bit weak here. Would expect continuation of this mini mark down (not mini if you are in it in teh wrong direction of course)
But used the low volume areas as your path. Price is going to follow the path of least resistance.
The case proves its self. Its the ability to identify these arees and how to exploit them is a bit tricky at first. Volume works.
Note the area right below the blue arrow.
look down to the volume ... what do you see?
Dimished sell pressure.. look again if you cant see it.
Now, look at the volume at point A... I woould say that the demand pressure here is low in addition to the sell.
What do you do?
In my opinion price in in the middle of this range here with downward momentum in teh background... i am waiting to see if more bag holders try to panic out and you see the increase in sell pressure.... where i would look for the no demand entry. will see!
But used the low volume areas as your path. Price is going to follow the path of least resistance.
The case proves its self. Its the ability to identify these arees and how to exploit them is a bit tricky at first. Volume works.
Note the area right below the blue arrow.
look down to the volume ... what do you see?
Dimished sell pressure.. look again if you cant see it.
Now, look at the volume at point A... I woould say that the demand pressure here is low in addition to the sell.
What do you do?
In my opinion price in in the middle of this range here with downward momentum in teh background... i am waiting to see if more bag holders try to panic out and you see the increase in sell pressure.... where i would look for the no demand entry. will see!