Donchian Zig-Zag -- Dynamic Support and Resistance
I have came accross this indicator called "Donchian Zig-Zag" and have paid close attention to its behaviour.
There are some strategies that I have developed with it, but I would rather not share them just yet.
I think overall, this indicator is fairly decent, and it can yield high returns when used properly.
At this current point of time, my views on this situation we have right here on the 4HR are the following:
- Price is going to reach near the Zig-Zag, and it's going to form an order block as a higher low before going to our supply zone.
- However, if price gets rejected, we have to prepare our shorting scenario, as we are only speaking of probablities. These projections are not set in stone, and none will be.
Hope you found this useful.
Take care, and DYOR!
There are some strategies that I have developed with it, but I would rather not share them just yet.
I think overall, this indicator is fairly decent, and it can yield high returns when used properly.
At this current point of time, my views on this situation we have right here on the 4HR are the following:
- Price is going to reach near the Zig-Zag, and it's going to form an order block as a higher low before going to our supply zone.
- However, if price gets rejected, we have to prepare our shorting scenario, as we are only speaking of probablities. These projections are not set in stone, and none will be.
Hope you found this useful.
Take care, and DYOR!
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