We are at a crucial spot in 
IBP after a big dip in early May and a CFO BUY/REBUY and COO BUY. These purchases amounted to a total of $847,118. Price is inside of a supply zone that has formed during consolidation since the dip.
If you are swing trading this could be a good setup depending on your entry criteria. I'm planning on seeing what happens on the next couple of 4hr candlesticks:
Hopefully this analysis was interesting to you. GLHF 🫶
IBP after a big dip in early May and a CFO BUY/REBUY and COO BUY. These purchases amounted to a total of $847,118. Price is inside of a supply zone that has formed during consolidation since the dip.If you are swing trading this could be a good setup depending on your entry criteria. I'm planning on seeing what happens on the next couple of 4hr candlesticks:
- If price pushes up I'm going to see if I can enter while not being so late that it hurts my risk/reward with my TP being around the weekly trend resistance line.
- If price pushes down I will be looking for an entry at the bottom of the supply zone (with order flow confirmation).
Hopefully this analysis was interesting to you. GLHF 🫶
Nota
The candlesticks (and order flow) looked a little hesitant on price today so I didn't enter. Probably could have entered the top of the zone when it wicked but missed the entry and figured I'd wait to see what happens tomorrow.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.