Technical analysis by SnowflakeTrader about Symbol METAX on 1/17/2024
SnowflakeTrader
This is a Thread, so Follow for Technical Analysis performed with TrapZone Pro & UMVD Indicators. * Trend is Based on TrapZone Color * Bar Colors give us Momentum Green from strong Up Moves. Red Bars point to strong Down Moves. * Red UMVD = Selling Pressure & Green UMVD = Buying Pressure. Purple is for Divergence = Battle of Supply & Demand -------------------- 1-17-2024 RED UMVD pulling the price DOWN deep into Green TrapZone. Lets see if GREEN UMVD shows up and buyers rescue this retrace !Intraday Settings - 1 second RenkoHourly analysisDaily Time frame analysis. Currently have divergence on UMVDLatest - RED TrapZone with GREEN UMVD. Price is at the BULL TRAP location. I will watch for UMVD if RED shows up the DOWN TREND May continueRED UMVD Took the prices higher and now we have a GREEN TrapZone as well Pattern Looking healthyGREEN UMVD Took the prices higher, now RED UMVD is pulling the prices in Retrace.Intraday - Divergence at close, price action points to higher prices if we get a GREEN UMVDIntraday - GREEN UMVD Took prices higher and RED UMVD caused a retrace.Strong GREEN TrapZone shows Bullish Price action.Hourly Check In - Very strong Trend with GREEN TrapZone, but these small GREEN UMVD patches usually means Trapped buyers. Lets see if More RED UMVD comes in to pull prices back in to the TrapZone for a Retrace. Bar color is GRAY means there is no strong Up side momentum.Latest IntradayTrapZone are Flat/ Prices are sideways -Side By Side Analysis - Bulls Got it. Watch for Short term UMVD and TrapZone for when the Retrace May happen.New Highs are more likely, buyers are back at itGreen means Green -- Right !Massive trend in place - very wide TrapZone. Deep and Fast retraces are possible without changing the Trends.Retrace is over, watch for Green Bar for a Class A or B Entry.Hourly Technical Analysis Check In Long Term Trend Angle 7 is now broken. Price decline occurred at the break. Next support will be around angle 6. RED umvd support the above assessment.
