Lot of people do take the moving averages cross + a close and so it's pretty logical to assume that there are a lot of retail order buildups in these zones as their orders come in from here. people also will often use the 50 EMA as a confirmation for something they take so most times the aggressive behavior is seen on these type of zone's to fake traders.
The 800 EMA and the 200 EMA both represents the 50 balance line of another timeframe (50 EMA).
Given a trap pattern over these averages will look to trade away from these. and averages are pretty tight right now!
Another thing to note is right after the 50 200 crossed the market pulled back immediately. The 50 200 cross is another zone where retail traders build there orders and so i see this pullback to the upside as a stop-hunt then the true intentions.
Lets see...
The 800 EMA and the 200 EMA both represents the 50 balance line of another timeframe (50 EMA).
Given a trap pattern over these averages will look to trade away from these. and averages are pretty tight right now!
Another thing to note is right after the 50 200 crossed the market pulled back immediately. The 50 200 cross is another zone where retail traders build there orders and so i see this pullback to the upside as a stop-hunt then the true intentions.
Lets see...
Comment:
Moved SL to entry
Comment:
Top order at Blueberry (800 EMA) cancelled
Trade closed: target reached