Long
After two tests, long entry on TC (for aggressive traders)
1 - Sign of strength: Ultra high volume on down bar that close in the middle and the next candle is up
2 - Lack of selling pressure (very low volume on down candle)
3 - Long spread candle on high volume that closes near its highs: effort to rise
4 - Sign of weakness: ultra high volume candle that closes off its highs and the next candle is down. There still are sellers at these prices
5 - Here we have a confirmation of a test but there still is weakness in the background and the next candle is down on increasing volume
6 - Strength comes back: increasing volume with decreasing prices (selling climax). The next candle close at the same level and the following closes up on increasing volume. There must be buying activity here
8 - Test of supply confirmed by next candle
9 - Again. test of supply confirmed
2 - Lack of selling pressure (very low volume on down candle)
3 - Long spread candle on high volume that closes near its highs: effort to rise
4 - Sign of weakness: ultra high volume candle that closes off its highs and the next candle is down. There still are sellers at these prices
5 - Here we have a confirmation of a test but there still is weakness in the background and the next candle is down on increasing volume
6 - Strength comes back: increasing volume with decreasing prices (selling climax). The next candle close at the same level and the following closes up on increasing volume. There must be buying activity here
8 - Test of supply confirmed by next candle
9 - Again. test of supply confirmed
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.