Going Up while hitting 50% ret and major supply level
Here is the idea
1. The price hit supply area. On 1H chart the volumes are higher too
2. The price hit 50% - 61.8% retracement level. It jumped quite nicely on 50% exactly on 5 min chart
3. The trend is up and right now the price hit the support line
4. Divergence from Stoch
5. Stoch is in oversold area (I don't rely much on this signal)
TP: demand levels.
TP1 - support becomes resistance
TP2 - no supply bar (02/19) - volume is lower than previous 2 bars and the bar is up
TP3 - again strong demand level
The time will show am I right
1. The price hit supply area. On 1H chart the volumes are higher too
2. The price hit 50% - 61.8% retracement level. It jumped quite nicely on 50% exactly on 5 min chart
3. The trend is up and right now the price hit the support line
4. Divergence from Stoch
5. Stoch is in oversold area (I don't rely much on this signal)
TP: demand levels.
TP1 - support becomes resistance
TP2 - no supply bar (02/19) - volume is lower than previous 2 bars and the bar is up
TP3 - again strong demand level
The time will show am I right
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