QBAK - Reversion to the Mean
Green lines represent the 10-month channel for price action, which it is currently at the bottom of.
Note the volume by price on the right with the 2 light blue dotted lines. The top line reflects the price of most volume during this channel and the bottom is a high volume node. Both of these price points should have strong price memory with investors feeling they are owed this price and won't sell below.
Of course if the channel breaks down, the trade is lost.
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this is not financial advice, trade at your own risk.
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Note the volume by price on the right with the 2 light blue dotted lines. The top line reflects the price of most volume during this channel and the bottom is a high volume node. Both of these price points should have strong price memory with investors feeling they are owed this price and won't sell below.
Of course if the channel breaks down, the trade is lost.
---------------------------------------------------------------
this is not financial advice, trade at your own risk.
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