ICICI CHART
Below is a chart of Wyckoff's accumulation. In the last post we had analysed the same chart wherein we had noticed a stopping volume activity on the left bottom bar.
In this chart we have identified effort to moveup bars through a small piece of pinescript and we can notice more frequency of effort to move up bars towards breakout portion of the accumulation zone. Once the price have breakout they have come back to re-test the resistance zone.
GOOGLE CHART
This is another accumulation zone identified in google inc during Nov 2020 to Jan 2021. Three bars towards to end of the zone were found to be bars of effort to moveup and hence it was confirmed before the break-out that this zone is more likely be a zone of accumulation and breakout is near. After breakout the prices have retested the resistance zone for remaining supply before moving ahead.
Resources
Learn more on volume price analysis and other technical fundamentals through the Book "A Complete Course to Volume Price Analysis- Read the market Bar by Bar" by Achal. Pinescript codes for identification of bars also available in book to assist you during your learning.
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| 200+ pages book | 130 pages book |
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