Morning trading October 15, page-767

@Elitepdr SCN Looking at the weekly chart supply is in the 29 cent to 37 cent range. So basically this tells us to safely trade this share up to 29 cents on lower timeframes as markets tend to turn lower at higher timeframe supply levels.
SCN weekly chart demandsits at 6.55 cents to 7.5 cents. If this weeks candle closes above the pivot high from the week before last then a new demand level will be created which envelopes last week's candle.Other things to note on this cart is price is holding above the 8ema, the 50sma and the 200sma meaning major resistance is below price.There is a weekly chart golden cross where the 50sma has crossed above the 200sma.
SCN 10.5 daily chart demand Yesterday's candle closed above the the latest pivot high which is marked. (A pivot high being where a centre cadle is higher than the one either side of it.) The preceeding candle to the candle closing above the pivot high becomes the new demand level) . In theory the thing to do is set an alert at the top green line and when the alert goes off buy at the top green line on the pullback to demand and place a stop just below the bottom green line. The distance between the buy order and the stop is 1R or the risk of the trade. Trades taken on lower timeframes give a better Risk to reward. The distance between the top green line and the lower red supply level is the profit margin.