Around the labelled region has been a lot of active buyers---known as support ....however all of a sudden price ended up falling through that price region ,this might imply no active buyers at that region as of now .We dont know when the buyers are gonna come back in full force as they where in and again thats a problem , but right now the chart is proving they are not there anymore .However using supply and demand we can deduce that around the marked region there could be supply / sellers ,now how did l figure this out ....the huge candlestick at that particular area is a result of huge orders and the less time spent shows an imbalance at the point.If you go to a 5 min chat you will notice a tiny range comprised of 4 short candlestick and that signifies the orders which where filled at that particular price range before the explosive move .with that being said I would expect price to fall provided it retests this exact region another problem is I cant tell for how many pips will it fall ,sometimes it can fall only 5 pips as shown with some of my analysis but we hope for the best .
Disclaimer ;I am by no means a trading Guru ,rather I am an enthusiastic analyst and this is my first time analyzing US30 .Best of luck traders .Please like and comment
Disclaimer ;I am by no means a trading Guru ,rather I am an enthusiastic analyst and this is my first time analyzing US30 .Best of luck traders .Please like and comment