Looking for a bounce at the 786

13 Haz 2024

We just broke below the Value are low to deviate the range.
Looking to hit the 786 of the current market structure.
I'd like to see a bounce from here.

13 Haz 2024

Not

More description about the chart:

The value area high and low are the seen by the "fixed range volume profile" ive pulled the tool across the current range so that it reveals the current "fair value area" which means what supply and demand actually name the value's worth. The horizontal batwing to the left is a measure of how much buying and selling was generated at that given price. This is true data. Large peaks usually are where orderblocks and heavier buying and selling occurs. Very good information to have. Thankful for tradingview's fixed range volume profile tool for giving us this.

The white line is point of control or you could say the "Heaviest buying and selling price" so it indicates price moving up or down from the poc (point of control). The next targets to look at are the Value area high (blue line) or the value area low (blue line below). This is how price ranges between buying and selling pressure.

The indicator on the bottom is a momentum indicator that shows in wave form the oscilating of stochastic RSI (relative strength index) of the buying and selling. The blue to grey is positve to negative moneyflow. Here ive drawn a blue arrow point down showing that moneyflow is curving from positve to negative which indicates a downward momentum. I then drew the double bottom bounce pattern to watch for in the future charts i post on this page. If all of these conditions line up we could see a bounce up from the 786 fib retracement level.

26 Haz 2024

Not

Looks bouncy and wyckoffy

26 Haz 2024

Not

rPOC+786fib+bull breaker could push it up