1 day to go before the weekly candle closes. If candle closes blue it creates a hold level to support higher prices IF the close is above the weekly inv.FS level. This gives next week's candle higher probability to gain the previous week's high & use it as support for higher prices.
IF closes below the inv.FS THEN probability goes to distribution & reversal. The inv.FS levels create resistance for price accumulation. The FS level would be the next support level on the weekly time-frame.
IF closes below the inv.FS THEN probability goes to distribution & reversal. The inv.FS levels create resistance for price accumulation. The FS level would be the next support level on the weekly time-frame.
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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.