IDU / USDT | جولای Q3 26' | نمودار روزانه

ID / TetherUS

I saw this on TradingView homepage. I have no idea what it is but I love to chart candles.

On June 5th -6th Price action tested the Yearly SwingLow created March 1 2023 and broke the level of support.
On June 10th a bullish engulfing candle gained the distribution range and started an accumulation ladder.

Price is currently above a daily FrontSide candle which has an expectation to create a low angle accumulation trend and continue the ladder up to the weekly BackSide level (grey line at .0446) which is acting as resistance.

I've marked the new low which is a weekly Inv. BackSide candle acting as support. Price may come back down to here. If so, we want to see the body of the candles closing above this weekly level or its price discovery dump to the marked moves at .02 and .01 cents.

If price breaks above the weekly level at .04 then there is another weekly BackSide level and weekly Inv.FrontSide level waiting as resistance.
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Multiple Time-Frame Analysis; Color Code | Strength favors the higher timeframe.

Yearly timeframe = black
Monthly timeframe = pink
weekly = grey
daily = red
4hr = orange
1hr = yellow
15min = blue
5min = green if they are shown. (Level visibility on intervals is set to timeframe the level was found on and below to keep chart view organized.)


** Candle Science explained **
A Range = two or more consecutive color candles.
There are two types of ranges - accumulation and distribution.

DISTRIBUTION RANGES DEFINED: BackSide (BS) Candle - First distribution candle in a distribution range. Expectation = strong reaction to price. long wicks reaching to or away from level.
FrontSide (FS) Candle - Last distribution candle in a distribution range. Expectation = reversal, create a trend in the opposite direction. Distribution candles are used as support.

ACCUMULATION RANGES DEFINED:
Inverse BS (Inv.BS) - First Accumulation candle in an accumulation range. Expectation. = strong reaction to price. long wicks reaching to or away from level.
Inverse FS (Inv.FS) - Last accumulation candle in an accumulation range. Expectation = reversal, create a trend in the opposite direction. Accumulation candles are used as resistance.