SPCX Weekly Chart – VPA 101 Lesson

SPCX Weekly Chart – VPA 101 Lesson

Hi everyone.

Take a look at this clean weekly chart of SPCX (Space Exploration Technologies). We’re now into our third week, and for any longer-term investors or swing traders… this is textbook Volume Price Analysis. Spot the selling. Look at that huge candle in the middle — strong body, very tall upper wick, and accompanied by massive volume. Price pushed higher during the week but couldn’t hold the gains, closing well off the highs. That’s supply in action. A classic VPA warning sign: when buyers try to drive price up, but heavy selling comes in on strong volume, the smart money is often distributing. Not the kind of action you want to see if you’re holding for the longer term. Simple charts. Simple messages. Often the most powerful.

This is the market makers taking advantage of the hype, a job which is made easy for them as a result, and a wonderful opportunity not to be missed, drawing traders and investors into weak positions. For those now trapped at the top, this could be a long wait, while for others waiting to invest, patience is required. And don’t forget, the lock-ins which I wrote about a few days ago will play their part in due course. You can read that SPCX post here

What are your thoughts on SPCX here? As always, trade safe and trade your plan.

By Anna Coulling – creator of volume price analysis