Posted by DigiNomad on 10th of Apr 2024 at 04:36 pm
Ahh, I was looking on a different time frame....slightly
different idea about where the supply was sitting.
On the 1hr, today's action looks incredibly similar to action
we've been seeing for months now...but only if you flip it upside
down. Consolidating in the lower 3rd of the candle - low tight flag
look.
Digi - there is a difference between resistance and supply
(institutions trade from Demand to Supply zones (they hunt
liquidity by running previous lows and highs where stops are
placed). Same thing with support and true demand zones.
Takes awhile to comprehend - at least it did for me but once
understood (how to properly identify) it helps immensely.
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SPY Daily Showing Answer To Quiz
Posted by steve on 10th of Apr 2024 at 04:31 pm
SPY - Chart Link
Fresh (Untested) Demand and Supply Zones are the Strongest (after testing they weaken)
Thanks Steve! You're a great
Posted by lnelson214 on 10th of Apr 2024 at 04:44 pm
Thanks Steve! You're a great teacher.
Ahh, I was looking on
Posted by DigiNomad on 10th of Apr 2024 at 04:36 pm
Ahh, I was looking on a different time frame....slightly different idea about where the supply was sitting.
On the 1hr, today's action looks incredibly similar to action we've been seeing for months now...but only if you flip it upside down. Consolidating in the lower 3rd of the candle - low tight flag look.
Digi - there is a
Posted by steve on 10th of Apr 2024 at 04:57 pm
Digi - there is a difference between resistance and supply (institutions trade from Demand to Supply zones (they hunt liquidity by running previous lows and highs where stops are placed). Same thing with support and true demand zones. Takes awhile to comprehend - at least it did for me but once understood (how to properly identify) it helps immensely.