Hi, friends.
Interesting idea - price action pattern Over&Under.
(looks like Head&Shoulders, but with change of structure).
We can try to buy from the current price or wait for a small correction wave to 400-401. If the price breaks down
level 390 we will see a fall wave to 360.
Trade recommendations:
Entry point: 401 (conservative) or 409 (aggressive)
Stop: 385
Target1: 450
Target2: 480
Glossary of terms
Interesting idea - price action pattern Over&Under.
(looks like Head&Shoulders, but with change of structure).
We can try to buy from the current price or wait for a small correction wave to 400-401. If the price breaks down
level 390 we will see a fall wave to 360.
Trade recommendations:
Entry point: 401 (conservative) or 409 (aggressive)
Stop: 385
Target1: 450
Target2: 480
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 2-3 fixing movement.
Trade closed manually