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This Stock follows supply and demand almost seamlessly. We can now see price has reached the supply resistance zone and we can now expect a rejection back toward the demand area.
Price has broke the supply zone and retested it, confirming the downside move. I'm waiting on price to break $540 and I'll ride it down to $520 and take profit.
If you decide to hold, wait to see how price reacts at the 50% line and make your bias from there.
*Note: The 50% zone is the indecision area where price can either break though and continue to the demand zone or reject the area and reverse in the opposite direction. When trading supply and demand
never enter a trade until price breaks either to the upside or downside outside of the indecision zone to avoid getting trapped in a period of consolidation.
This Stock follows supply and demand almost seamlessly. We can now see price has reached the supply resistance zone and we can now expect a rejection back toward the demand area.
Price has broke the supply zone and retested it, confirming the downside move. I'm waiting on price to break $540 and I'll ride it down to $520 and take profit.
If you decide to hold, wait to see how price reacts at the 50% line and make your bias from there.
*Note: The 50% zone is the indecision area where price can either break though and continue to the demand zone or reject the area and reverse in the opposite direction. When trading supply and demand
never enter a trade until price breaks either to the upside or downside outside of the indecision zone to avoid getting trapped in a period of consolidation.
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.