CELH - Reversal Signs?
Yesterday's strong reaction at what was setting up to be a strong buy area for buyers was further confirmation of this chart setting up for a reversal - at least in the short term.
While the upside is clear here, we do have a ton of work to do to overpower sellers at the established HTF supply zones above. Expect a continuation toward $31 supply if we can flip this most recent resistance into support and a buy zone.
Although I prefer videos to allow for a deeper and more extended multi-time-frame analysis, this is the simplicity of what we look for sometimes.
Ideal entry would have been yesterday when we entered and saw a strong reaction at our pre-identified demand zone below but if missed, further confirmation will be the flip of this upcoming zone.
Happy Trading :)
While the upside is clear here, we do have a ton of work to do to overpower sellers at the established HTF supply zones above. Expect a continuation toward $31 supply if we can flip this most recent resistance into support and a buy zone.
Although I prefer videos to allow for a deeper and more extended multi-time-frame analysis, this is the simplicity of what we look for sometimes.
Ideal entry would have been yesterday when we entered and saw a strong reaction at our pre-identified demand zone below but if missed, further confirmation will be the flip of this upcoming zone.
Happy Trading :)
Trade active
We successfully broke through the LTF supply that we identified as a flip zone - after breaking through and returning to that zone, now turned bullish, we saw strong bullish volume indicating that this is in fact a zone being flipped into support. We now need to build a strong enough resistance above in order to break and utilize that bearish turned bullish liquidity into a larger more sustained move up
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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.