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"The Point of Control"
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In my last video I observed the past trading week and discussed possible Institutional/ market-maker volume and the corresponding downward price moves.
When analyzing a volume profile indicator, the "point of control" is the price at which the most trading volume has occurred over a certain period of time.
Since TSLA reached its peak price of $1,229.91 on November 4 2021, the price at which there has been more trading volume than any other has been approximately the price that TSLA is priced at RIGHT NOW! $1025.61
Excuse the CAPS lawl
Anything could happen, but I still think we are more likely to see some more downward movement.
Let me know what you think!
I am not an investment or trading professional and nothing above constitutes advice.
When analyzing a volume profile indicator, the "point of control" is the price at which the most trading volume has occurred over a certain period of time.
Since TSLA reached its peak price of $1,229.91 on November 4 2021, the price at which there has been more trading volume than any other has been approximately the price that TSLA is priced at RIGHT NOW! $1025.61
Excuse the CAPS lawl
Anything could happen, but I still think we are more likely to see some more downward movement.
Let me know what you think!
I am not an investment or trading professional and nothing above constitutes advice.
Nota
Oh yeah! If the "point of control" is actually a new support level now because of inflation then oops LAWL. I'll change my mind if there is sharp movement to the upside and price hits the $1075 range
Let's see what happens.
Nota
Call it what you like, but beyond a general downturn in the markets overall, on April 9th we were at $1025.61. Here we are one month later at $734.00. Thats -28.4%! I should have remained in the trade but the theta and the premiums on this one had me pull out.
Let's see where this goes!
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