Welcome to another market update written by me:
This can be a tutorial for people who use volume profile as an indicator for their trades and insights of the market movement.
So basically When the visible range forms this shape, the possibility of having a fake bull flag is high and most of traders would get trapped.
Following by the RSI bearish divergence, this move was a textbook.
Next possible support is at POC (if the pink box doesn’t hold).
I recommend all of you to practice and learn volume profile, as it is one powerful tool to find strong support and resistance on the chart.
Stay safe, the dip is very near ;)
This can be a tutorial for people who use volume profile as an indicator for their trades and insights of the market movement.
So basically When the visible range forms this shape, the possibility of having a fake bull flag is high and most of traders would get trapped.
Following by the RSI bearish divergence, this move was a textbook.
Next possible support is at POC (if the pink box doesn’t hold).
I recommend all of you to practice and learn volume profile, as it is one powerful tool to find strong support and resistance on the chart.
Stay safe, the dip is very near ;)