Accumulation vs distribution. Look for areas where price was “trapped” within a range. In general, you can use previous demand zones or previous supply zones as targets. It does not matter how far in the past that they were there. These are extremely viable points of reference. You can easily see them… We ALL can… But the issue I think most of us run into is bot being patient. I have been there. Another way that you can where these zones are is by where price was stoped.. Stopping volume .. look at that recent volume spike as price neared this previous demand zone (the green box)… So for now..

I personally think that it still has a way to go to the downside. It is really going to depend on the SM buyer and wether or not they are going to begin accumulation. Remember that you want to mimmick what the banks do. You do not want to go against them because you/me/us/retail will lose. They move the market. The best way to see what they are doing is through volume .

So that recent hit of demand is pretty big. Keep an eye out for a double bottom if/ when it comes back down. If it does run up from here, Keep an eye on the 50% retrace level. This is a common turn around point. If the sell pressure/ volume is loow at the 50% fib, that can indicate an area of little pressure. If it gets to 50% fib and the supply pressure is high, then you might expect price to drop from there…. lol. A lot of what ifs.

If you are interested in understanding volume check out Pete Faders VSA on You tube and he walks yoou through it. It wiill help your trading/investing quite a bit.

We will see what happens over the next few days-weeks.