Note: Testing the Supply and Demand Basis for Trading
Based on the 1-d chart, the recent bullish move following Trump's tweet has not yet broken through the Supply Zone. Expected pullback back to Demand Zone. Reward/Risk Ratio = 2.78 using these zone.
If another bull-run breaks past Supply Zone will close short position and wait until bounce from ATH Supply Zone to re-enter.
Based on the 1-d chart, the recent bullish move following Trump's tweet has not yet broken through the Supply Zone. Expected pullback back to Demand Zone. Reward/Risk Ratio = 2.78 using these zone.
If another bull-run breaks past Supply Zone will close short position and wait until bounce from ATH Supply Zone to re-enter.
Note
Please let me know if you have any additional suggestions / feedbacks to strengthen the thesisNote
Bull-run did not break through supply zone despite positive news from social media, strengthens bearish thesis.Note
Potential breakthrough of supply zone. Closed all short positions and waiting for market response before taking new positions
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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.