Looking at the previous price action, its evident that atlast required a pull back before a continuation upwards. Currently price is sitting on the area where the highest volume of trades took place.
There are currently low volume candles at this zone which indicate accumulation for distribution. Usually when price coils like this, we can expect a big move in either direction. Price is basically building strength. In other technical terms this is considered a bollinger band squeeze.
This is the optimal entry area short or long. Would be best to wait until price shows us what it will do. If I was the MM id wick prices down into the money zone and take out all the obvious stop loss orders below there.
There are currently low volume candles at this zone which indicate accumulation for distribution. Usually when price coils like this, we can expect a big move in either direction. Price is basically building strength. In other technical terms this is considered a bollinger band squeeze.
This is the optimal entry area short or long. Would be best to wait until price shows us what it will do. If I was the MM id wick prices down into the money zone and take out all the obvious stop loss orders below there.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.