What is important in the recent BTCUSD Head-and-Shoulders pattern
Many traders noted reversed SHS pattern on the BTCUSD market. But what is important. Study the price/volume on downwaves 1 and 2.
1st down-wave has
40 ticks progress
13k volume
2nd down-wave has
34 ticks progress
18k volume
Suppose the volume is effort and price progress is the result of effort. Then you can suggest the bears got smaller results amid bigger effort. This is a sign of hidden strength. Yellow bars show a period of fast trading activity. This is a sign of professional whales were present at 7.2 and 6.8. What did they do? If they turned from bearish to bullish then this zone 6800 and 7200 is becoming a zone of strength.
Home
Yes, You Can Become a Professional Chart Reader
To build success in any business, you should rely on things that really work.
In Chart Reading Method, they are three: The Law of Inequality, The Law of Supply & Demand, The Law of Effort & Result.
Download free books, to understand how can you apply the Laws and convert charts into profitable setups daily!
Enter your email to Download books
Start building your success with Chart Reading method. Let’s not go back to what wasn’t working anyway.
No spam is guaranteed.