Strong bullish imbalance created fresh demand zone for buy. Patience is key. We need to wait for price to retrace back into the zone where we will be looking to go long.
Strong bearish impulses created fresh supply for SELL. Higher time frame supply zone on the monthly. Going long is not a good idea. Patience is key. We have to wait for price to return to the zone where we will be looking to go short. No indicators, No news or earnings announcements. Price moves only when there is an imbalance in supply and demand.
Using our supply and demand lenses, we have a strong imbalance in price causing a fresh demand zone on the weekly. High demand causes prices to rise. We have to be patient to wait for price to retrace to the demand zone where we can look for buy opportunities.
Strong imbalance on the weekly created fresh demand zones. Going shorts is not a good idea. We have to be patient to wait for price to retrace back into the zone where we will be looking to go long.
Ascending trend line broken on the monthly creating a valid supply zone. Possible short bias.