PDD - We've seen this exact PA before! Making sense of itThis is no surprise to anyone who's been watching and understanding my analysis videos, specifically on PDD. Our strong controlled selling magenta algorithm took control of price and tapered purple did not act as resistance as bulls would have hoped. Rather, similarly to price action in the past, we found support on our blue tapered controlled buying whereas bears subsequently pushed price into a deeper liquidity build for bulls.
We will now be looking for magenta to continue to build liquidity with purple tapered to gain support of price in order for bulls to activate any sort of buying continuation.
When purple taper starts to control price, we can begin to look for bullish PA back into previous highs and there we can expect large and consistent gap moves upward.
Hope this was helpful and that you're all enjoying the weekend!
Please join me tomorrow at market open (9:30 AM EST) where I will be trading live on a stream here on TradingView and taking trades, analyzing charts, and having fun with our awesome community.
And as always,
Happy Trading :)
