Hi, friends.
The price is in the balance with the range 604-660.
As long as the price is in the balance, we trade only from it borders. Otherwise, the stop loss will be your friend.
If this balance goes up, with a high probability the price will breakout 700. First target - 710.8.
If this balance goes down the price will fall to the support levels 575. This level is very important - it's key point.
The way the price will behave at this level, will show us whether the price will continue to rise or fall.
If the reaction is weak, without volume, the price will fall to 530.
If there will be a large volume or/and the initiative of buyers, in this case we can try to buy after a little pullback, but not to sell from the outside border of the balance.
Remember - trading is a game of probabilities.
Glossary of terms
The price is in the balance with the range 604-660.
As long as the price is in the balance, we trade only from it borders. Otherwise, the stop loss will be your friend.
If this balance goes up, with a high probability the price will breakout 700. First target - 710.8.
If this balance goes down the price will fall to the support levels 575. This level is very important - it's key point.
The way the price will behave at this level, will show us whether the price will continue to rise or fall.
If the reaction is weak, without volume, the price will fall to 530.
If there will be a large volume or/and the initiative of buyers, in this case we can try to buy after a little pullback, but not to sell from the outside border of the balance.
Remember - trading is a game of probabilities.
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded volume .
- Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance - Accumulation Area.
- F L - flat level.
- T L - trend level.
- Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 1-3 fixing movement.