Supply and Demand is one of the core strategies used in trading. It focusses on the ancient laws of supply and demand and how price moves in a free-flowing market. The foundation of this strategy is that the amount of an instrument that is available and the desire of buyers for it, drive the price. It identifies zones on the chart where demand overwhelms supply (the demand zone), driving the price up or where supply overwhelms demand (the supply zone), driving the price down. Most supply and demand traders wait for the price to enter these zones, where major activities of buying or selling have taken place, before entering a long or short position themselves.
It makes sense to buy at a demand zone and to sell at a supply zone, but keep in mind that fresh zones are more effective than retested ones. They can be used as entry zones for a continuing trend or as reversal zones for a changing trend. Trades can be made aggressively or conservatively, each with their own rules of entry and exit. TradingView has a smart drawing tool that allows users to visually identify these levels on a chart.
It has been observed that the price action trending downward for past few months and dropped from 290 to 230 levels. Now, the price action breaking above the downward trendline which will indicate a strong buying pressure and buyers comeback. Once it closes above 243 levels then it shall confirm the upward rally from here on and every dip shall become a buy.
T1-...
Price action remains bullish as long as it holds the level 29850 - 29900 for the targets 30200, 30450, 30820 and 30980. Bearish below 29850 for the targets 29600, 29360, 29080 and 28740.
Price action is bullish as long as it holds 11620 - 11650 for the targets 11690, 11730, 11780 and 11840. Bearish below 11620 for the targets 11580, 11520, 11460 and 11400.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
