Trying to keep it real simple lately. Price is in the red clouds meaning a likely downtrend; however the bottom of the cloud and the support level below it can aid in a bounce upwards. I labeled the possible price areas using the volume profile.
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Took comments off and added color coded support resistance levels based on the VP.Note
Forgot to add. I zoomed out on the picture above; when you do that, you bring in more past trading volume into the mix and the levels become more prominent. Notice how the levels begin/end where you see the beginning/end of the "humps". If theyre more green that red it means buyers (the opposite would be sellers).
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Gann Lines Added. Just used High/Low points, nothing fancy. Arrows are based off VP.Note
UPDATE: Note
Note
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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.