BAC DAily/Hourly demand zone 25.55 - 25.2

BAC DAily/Hourly demand zone 25.55 - 25.2

cmp:25.95 17 aug 2020 price quite near to demand zone, after making few exciting drop in hourly candles

pro:
1. 2 exciting candles legout
2. origin of upmove in hourly candles
3. good single exciting candle legout in daily location time frame
4. BAC is in trend till it hit next weekly supply

Con:
1.Approaching and near weekly supply
2. hourly candles lots of base in left of the zone, so zone might not work
3. SPY is near previous all time high, so if it correct. this level may not hold

Komentar:

Entered in the demand zone

Trading ditutup: stop tercapai:

SL hit. stock has given a bounce of .90 points from the 15 min zone, but was not enough to reach the target line. And then dropped it breached the SL .

Probable reason:
1. lots of groups of small candles in range in the left if we see the execution 15 min chart.

2. stock was coming down from the top of the swing high. So it may go till swing low.