29th March 24
15min TF
Observation: Vol Analysis
Entry 0.8687
Profit level 1.0965 (26.22%)
Stop level 0.8509 (2.05%)
Trade active
So onto the next support level....?
Trade active
The DOM reads strong Selling pressure...? However green has shown its hand at this time...
Trade active
RSI along with Vol Analysis helps with confluence at this time
Trade active
Note
So we can regain entry another trade has been placed as an preliminary caution
Trade active
Mapping the 4-hour TF provides more clarity with price action. As depicted using supply and demand zones, i.e., base of the range, OTZ (middle), and top of the range. Here, we can see the fractal movement of price action along with the previous correlation of price action (look left). As far as market manipulation (institutional bias) is concerned, we can judge better using the 4-hour TF to see where the price is heading. However, in my opinion, we are at a major support level, i.e., Optimized Trading Zone (OTZ). I expect price action to react at this level and head upwards. If we break this zone (OTZ), then we are heading back to the base of the range, which at this time would be a major indication that the downward trend is not over."
Note
We have reached a pivotal point within the OTZ zone.
Trade active
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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.