Nearing that previous distribution area (supply zone) but the sell pressure does appear light. I am looking for long entries on teh pull backs because buying here would be to rsisky considering price is this close to a previous supply area.
It also just left that re-accumulation range (the bull flag) which it was in for approximately 21 days. Probably shook a lot of inpatient traders out of position.
Keep it simple:
Look for buyers at previous accumulation areas (demand zone)
Look for sellers at previous distribution areas (supply zones)
Never chase price. There is no quicker way to burn through your money than by chasing. Most of you know that already.
Sources of education:
Richard Wyckoff
Tom Williams Volume spread analysis VSA/ Master the Markets
Pete Faders VSA* Sam Seiden (supply and demand)
Read the ticker dot com
Wyckoff analytics
PsychFX
MentFX
Element 15 trades (bitchute/odessy)
Avoid buying into weakness/supply/resistance
Avoid selling into strength/demand/support
Avoid entry when price is in middle of a range (phase B)
It also just left that re-accumulation range (the bull flag) which it was in for approximately 21 days. Probably shook a lot of inpatient traders out of position.
Keep it simple:
Look for buyers at previous accumulation areas (demand zone)
Look for sellers at previous distribution areas (supply zones)
Never chase price. There is no quicker way to burn through your money than by chasing. Most of you know that already.
Sources of education:
Richard Wyckoff
Tom Williams Volume spread analysis VSA/ Master the Markets
Pete Faders VSA* Sam Seiden (supply and demand)
Read the ticker dot com
Wyckoff analytics
PsychFX
MentFX
Element 15 trades (bitchute/odessy)
Avoid buying into weakness/supply/resistance
Avoid selling into strength/demand/support
Avoid entry when price is in middle of a range (phase B)