Folks,
This is how I am seeing things. Let me know if you have any suggestion/ideas.
While price has visited and pass through the 1st Supply zone, it is still within the 2nd Supply zone. .
We have had a lot of big announcements this week. As you can see, price has been moving horizontally since 18 July. A lot if activities undertaken by the institutional banks. Once it breaks out, we can expect another HUGE movement. My guess is for price to still move DOWN. Price is nowhere near the 'TEST OF CONTROL' zone, which means SELLERS are still FIRMLY in CONTROL. If you have been following in the past, you should know how we arrive at the zone where 'CONTROL' is challenged.
Take care and good luck.
P/S : As always, do not just believe what I say. Use your common sense.
This is how I am seeing things. Let me know if you have any suggestion/ideas.
While price has visited and pass through the 1st Supply zone, it is still within the 2nd Supply zone. .
We have had a lot of big announcements this week. As you can see, price has been moving horizontally since 18 July. A lot if activities undertaken by the institutional banks. Once it breaks out, we can expect another HUGE movement. My guess is for price to still move DOWN. Price is nowhere near the 'TEST OF CONTROL' zone, which means SELLERS are still FIRMLY in CONTROL. If you have been following in the past, you should know how we arrive at the zone where 'CONTROL' is challenged.
Take care and good luck.
P/S : As always, do not just believe what I say. Use your common sense.
Note
Just an update after the July 2022 inflation. If you guys are looking to BUY, please be careful. CONTROL is yet to pass from Seller to Buyers. Even if it does, wait for a day or two for things to settle down before you proceed to BUY.Today marks the first sign that inflation scare may be easing. BUT Euro Zone is definitely going into recession. There is a HIGH chance Euro will fall below parity soon.
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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.