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VSA

CONNECT - Oversold with No Supply bar at support Hi, In mid May, price broke above horizontal line A at bar 1. Line A was a siginificant resistant line from early 2020. On June 2nd, price re-tested line A, making this line A a significant axis line. Price rallied and break above resistant line B. Then price slowly declined after the high on June 15th. Fast forward to July 16th, price gapped down and formed a down bar with close at the low with high volume ( bar 4), and this high volume down bar with close at the low may indicate a selling climax. Price was near the previous axis line A, and it was also at the "oversold region" within the down trend channel (formed by trendline C and C'). Bar 5 was a down bar that managed to break below axis line with moderate volume, but two days later price closed back above line A, thus creating a potential spring setup. Then we had bar number 6, which was a down bar with small spread with volume lesser than previous two bars. This is a No Supply bar in VSA term, and it may indicate no more sellers left to push the price lower. So to recap : price is at a support area (axis line A), in an oversold position (near the down trend line C'), and we saw indication of strengths coming into the market : Selling climax, potential spring , and no supply bar. I'm looking forward for price to go up at least till the line B again Trade at your own risk, comments are welcomed
CLong
by Forever_Learner
BAUTO - Minor wyckoff accumulation before marking up?Hi, I think this hourly TF shows a nice VSA/Wyckoff accumulation pattern We have a confluence of horizontal line A which was a previous resistant than has been broken to the upside, and the up trendline C which has been supporting price before (please zoom out the chart to clearly see the significant of these two lines) Bar 1 and 2 both had high volume and their closes were away from the low of the bars. In VSA method, a down bar that closes away from the bar's low with high volume indicates buyers entering the market (stopping volume). These high volume bars are usually "tested" again to see any remaining supply, and in this case I believe bar 3 was the test. Bar 3 was a down bar with light volume. If price manages to break above the downtrend line A, it might be ready to mark up higher. Trade at your own risk, comments are welcomed.
MYX:BAUTOLong
by Forever_Learner