Pick where the origin of a daily time frame chart move suddenly down or up and place a long rectangle box around high and low of candle (see chart) and extend this rectangle box right on chart.
If that rectangle box engulfs future price action and PA reverses then you have found a respected demand or supply zone- to set up new trades from.
Supply and Demand zone areas on daily charts are where big banks or institutions trade from and leave their FOOTPRINTS that you can read on charts.
Do not ever fight big banks or big institutions- just trade with them related to having less stress and emotions.
If you can trade breaks of these demand and supple zones trades will be much easier to do and you will not be involved in that much of price action chop or sideways ranging price action.
These areas are where consolation or accumulation of orders occur and can last longer then most retail traders have time or money to wait for breakouts of price action. Trading when price action breaks either Demand or Supply zones means one side has waved white flag and surrendered, thus price action breaks outs of these areas mostly with big large institutional candles.
If that rectangle box engulfs future price action and PA reverses then you have found a respected demand or supply zone- to set up new trades from.
Supply and Demand zone areas on daily charts are where big banks or institutions trade from and leave their FOOTPRINTS that you can read on charts.
Do not ever fight big banks or big institutions- just trade with them related to having less stress and emotions.
If you can trade breaks of these demand and supple zones trades will be much easier to do and you will not be involved in that much of price action chop or sideways ranging price action.
These areas are where consolation or accumulation of orders occur and can last longer then most retail traders have time or money to wait for breakouts of price action. Trading when price action breaks either Demand or Supply zones means one side has waved white flag and surrendered, thus price action breaks outs of these areas mostly with big large institutional candles.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.