Vechain chart as example, reading formations and volume indications, Let's go!
Zone 1:
This is clearly an upswings and yout could see that by the big wick to the upside, also cald bearwicks. This weekly tested the resistance and rejeckted. Remember friends, on the big frames price would most like reject by testing it the first time. We are coming from an downtrend en we could see no bulls are joining the game. So after that an big bearish continuatioon bar. No volume, most likly you see continuation aswel as this example.
Zone 2:
It's differtent then one. For zone 2 we could see an big bullis outbreak candle with some volume that's also coming in! Good sign! So in Zone 2 we could see tht more and more volume is comnig in. We make an local high! I think it's good possible that we finish the correction and go for an new higher may something like 150 / 175 is good possible next weeks. But we never now what the marktmakers plan is, we will see!
Last thing, if we close this last weekly canlde like this, Hammer time! Most like the reversal candle! :)
Have a good day / night!
Zone 1:
This is clearly an upswings and yout could see that by the big wick to the upside, also cald bearwicks. This weekly tested the resistance and rejeckted. Remember friends, on the big frames price would most like reject by testing it the first time. We are coming from an downtrend en we could see no bulls are joining the game. So after that an big bearish continuatioon bar. No volume, most likly you see continuation aswel as this example.
Zone 2:
It's differtent then one. For zone 2 we could see an big bullis outbreak candle with some volume that's also coming in! Good sign! So in Zone 2 we could see tht more and more volume is comnig in. We make an local high! I think it's good possible that we finish the correction and go for an new higher may something like 150 / 175 is good possible next weeks. But we never now what the marktmakers plan is, we will see!
Last thing, if we close this last weekly canlde like this, Hammer time! Most like the reversal candle! :)
Have a good day / night!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.