It can be tricky getting demand & supply (D&S) zones right. I use Bollinger Bands (as taught by Sam Seiden and others) to filter potential failed D&S zones along with good old price action. Price remains within BBs around 95% of the time. So if we identify the 5% when it's not within the BBs, we are 'possibly' identifiying an extreme (or an over/undersold condition) which could be a turning point.
Together with price action, as shown below, we can get a higher probability (never guaranteed) idea of where price might go.
By the time I've created the chart below, written this and sent the family off for the day, GU has given us even more confirmation by breaking the trend line.
Let's see 'how well' this goes.
I Twittered this potential set up as the 2nd 15 min pin completed. It's a very quick & convenient way of sharing views!
Rob
Together with price action, as shown below, we can get a higher probability (never guaranteed) idea of where price might go.
By the time I've created the chart below, written this and sent the family off for the day, GU has given us even more confirmation by breaking the trend line.
Let's see 'how well' this goes.
I Twittered this potential set up as the 2nd 15 min pin completed. It's a very quick & convenient way of sharing views!
Rob