If anybody was thinking of picking up a few shares now is the time to think harder. Of course price could go lower but you just have to take you best shots. demand zone 88-92
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A demand zone is an area where the chart suggests there are more buyers than sellers. That is usually the best time to buy. You would not be buying on emotion because in order to hit a demand zone the price has to go down.
Of course the sellers can come in and overwhelm the buyers but overall if you buy in demand zones you will do much better than just buying at any price
This demand zone is not great but it is there. The next one down is about $85 A better one is around $74. Price does not have to get down there. This only means that if price does get there it is likely to turn. As of this moment the 92-88 demand zone is stalling the drop. We will have to see what happens next.
Thank you so much. I appreciate you taking the time.
A little follow up here. Do you see how the price finally broke down from that demand zone. when that happened we can see that at that point the buyers dried up and there where more sellers. That created a little supply zone. When price comes back up to that zone we can expect a down reaction because some sellers are still waiting to get filled. The drop when it gets back there may only last a few minutes or days. The point for us would be not to buy in the $92 area for now. If price gets to $93 we know that the sellers are gone.
Try to use logic when you consider that buyers and sellers are real people making real trades. I have no problem believing the price will go much higher. I also understand we will have corrections along the way.
TIL👌
Sorry, I am about to show you how clueless I really am about a lot of things. I do not know what TIL means.
Today I Learned
Awesome! Just consider that only thing that really moves the markets is supply and demand. EVERYTHING else is nonsense and misdirection.
If you start paying attention to the chart with only price movement and nothing else. No curvy lines, no moving averages, nothing else you can start seeing how supply and demand works.
To get you started consider this. You are not really interested in the price that something sold at which is what a chart shows you. You almost want to see the opposite. You want to see why price DID NOT get to certain areas when it had an opportunity to get there.
You can combine that with one other fact and you will know more about chart reading then most people.
That one other fact is this. Despite what everyone claims Professionals DO NOT chase price. They let price come to them. Hopefully that helps you a little.
Just an update. You can see that price dropped into the "better demand zone at 70-74 and now we are having a pop in price. that demand zone is all used up now. Hopefully price keeps going up but if it goes down the next zone is $58-54. I hope price does not get there but I have no control over that.