⦿ Case study on DODLA
✅ Long-term accumulation phase (July 2021-July 2023) followed by the mark-up phase (up move) which began in late March 2023.
✅ Notice the non-existent volumes in the accumulation phase and the early mark-up phase till early June
✅ The dead volume phase was followed by some volume expansion in June and some massive volume spikes in late July.
Compare the volumes in these different phases.
✅ The massive volume expansion led to the creation of a strong demand zone. The initial expectations should be a positive reaction from the demand zone on the retest i.e. the demand zone should act as support.
✅ Notice how the up move fades away on low volumes and the price crawls near the demand zone. This is an absorption action since the price never moves below the first low, even on high volume spikes.
✅ The absorption action forms the Wyckoff re-accumulation structure followed by a breakout with volume spikes.
✅ Currently, the MAs have started to rise again and the gap between them is also widening, indicating a rising momentum.
✅ Until and unless the price moves below the new structural low, the bias remain bullish for me.
Please retweet if you found this helpful. 💕
#DODLA
✅ Long-term accumulation phase (July 2021-July 2023) followed by the mark-up phase (up move) which began in late March 2023.
✅ Notice the non-existent volumes in the accumulation phase and the early mark-up phase till early June
✅ The dead volume phase was followed by some volume expansion in June and some massive volume spikes in late July.
Compare the volumes in these different phases.
✅ The massive volume expansion led to the creation of a strong demand zone. The initial expectations should be a positive reaction from the demand zone on the retest i.e. the demand zone should act as support.
✅ Notice how the up move fades away on low volumes and the price crawls near the demand zone. This is an absorption action since the price never moves below the first low, even on high volume spikes.
✅ The absorption action forms the Wyckoff re-accumulation structure followed by a breakout with volume spikes.
✅ Currently, the MAs have started to rise again and the gap between them is also widening, indicating a rising momentum.
✅ Until and unless the price moves below the new structural low, the bias remain bullish for me.
Please retweet if you found this helpful. 💕
#DODLA
In you found this informative, be sure to check my case study on #CDSL. 🥰
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