How To Read Chart

[pela78]

The wide green up-bar (the third from the right edge) was a test or fresh minor zone of Weakness after the second SLKB.

Studying the volume/price action on a fast TF chart (right side) confirms the Supply on slow TF has activated. This Supply comes from old High (line A). So, the down-move toward center-line B (dotted line) should be a reliable expectation.

 

[pela78]

3 weeks ago I wrote in my Telegram about #ZRX

the chart make-belief, ZRX can produce more surprises in the future.


Since that time this crypto did advance from 0.21 up to 0.34. And it continues to climb higher.

Actually, I became skeptic about the continuation of rally when price penetrated the previous high 0.2666 (1). It did look very close to fake-breakout. The penetration (2) of previous high (1) with ND+SB sequences (Supply Bar after No-Demand bar) had also bearish impression. But look what did happen next.


Very low volume range (3) below 0.2666. If this low activity was caused by lack of sellers (NS) - then we will get a confirmation from upbar with rising volume - DBar.


Here is it !(4). It confirmed the low-volume range #3 as the Zone where lack of sellers was found. The market changed its character (Cha Cha) into bullish mode again.


The next signs confirmed strong character:
5 - No supply
6 - Demand bar
7 - No supply
8 - DB, but volume is extremely high (sign of hidden weakness).


Breaking out above 0.3 round number attracted rush of FOMO buyers. It is great moment to close big longs and start distribution. However, it is too early to suggest Major Reversal down.


While price is holding above 0.3 green line - market is sending bullish indications.

 

[Resto]

s simple, stocks live from crisis to crisis
This builds is a typical model.


To get acquainted with the cyclical nature of crisis situations and see that their sequence has not changed much, and it is for the upcoming crisis that the stock market, goods, indices and currencies are being prepared.

 

[Resto]

this action is not interesting to real investors now, it will become attractive to them only after 2,5 years

Now their interest in another market sector


Just advice to balance the Dow Jones index, something must fall, and something must grow, because there is a crisis - evaluate what will fall and what will grow at that moment

 

[schizo]

Can you please advise to what will happen to this stock going forward? I recently entered long after the buy signal was triggered.

 

[Resto]

Can you please advise to what will happen to this stock going forward? I recently entered long after the buy signal was triggered.

View attachment 211360

Interest, why do you need this garbage at the bottom of the chart, which fully displays the combination of candles, it does not work to get ahead of the chart, and the ratio that you want to see for yourself is reflected in the candles themselves

 

[schizo]

Interest, why do you need this garbage at the bottom of the chart, which fully displays the combination of candles, it does not work to get ahead of the chart, and the ratio that you want to see for yourself is reflected in the candles themselves

Well spoken.

 

[Resto]

Well spoken.

I just asked, and I was not going to answer your question, you bought a share for your own reasons, so manage your transaction yourself, what good is it for me to make you richer?

 

[Resto]

There are idiots who try to distinguish discrepancies, etc., but the discrepancy is essentially the same as wave theories or pattern theories, if you are not familiar with these theories, then diverging this garbage will not help.

 

[pela78]

On the right side, you see 3d #gold chart, a lot of volumes arrived on up-bars in the first half of August. Too much volume on up-bars - is a sign of Hidden Weakness as professional money get an opportunity to close big blocks of longs and spread gold contracts over the buying rush of FOMO public (retail traders). Ths spike in Google trends data confirms the FOMO sentiments. So, if the get the first sign of major distribution range, then what the bearish responses?

1) price can not bounce up from line B and drop to line C.
2) we have a red zone of weakness, it has built from the big Supply Bar. ZOW rejected price down.
3) study the profile of up-wave in the first half of October. It has a shape of "P". Bearish indication.
4) Price declined below the POC level of up-wave in the first half of October. Bearish indication.

Takin into account considered facts, I believe if gold will break down line C, it will reach D.