I have absolutely no idea what this is or what is purpose is or if it is even active but was asked to do a "technical" write up on it.
So this is the daily outlining high probaility areas following a standard distribution bell curve model. Looking at the push down from the high we can see that volume is trending downward indicating a reversal is likely. Price has already retraced to the mean of the bear market, pull back, and hopefully putting a higher low at the current price area.
Pattern wise there is a head and shoulders but also could be viewed as a simple ABC correction which is the likely case. Time wise following a standard bell curve I have added some time ticks that are typically respected in the general area and also the 50% mark in between.
May happen may not move a tick and this is simply a techncal write up. IF it is active as in there is people actually trading this movement is likely and if it pushes up will also likely follow pretty close to a standard distribution model.
Trade Well...
Your Friend,
Degen
So this is the daily outlining high probaility areas following a standard distribution bell curve model. Looking at the push down from the high we can see that volume is trending downward indicating a reversal is likely. Price has already retraced to the mean of the bear market, pull back, and hopefully putting a higher low at the current price area.
Pattern wise there is a head and shoulders but also could be viewed as a simple ABC correction which is the likely case. Time wise following a standard bell curve I have added some time ticks that are typically respected in the general area and also the 50% mark in between.
May happen may not move a tick and this is simply a techncal write up. IF it is active as in there is people actually trading this movement is likely and if it pushes up will also likely follow pretty close to a standard distribution model.
Trade Well...
Your Friend,
Degen