Wyckoff pattern is being formed and price is going towards former low. Former low could act as a Resistance level for price meaning it could head back up.
(i)Institutional candle could act as a point of indication if passes through it that the market is moving upwards on a long term basis.
(ii)London open price moves lower might be an indication that price will also move lower during New York open.
(iii)New York price moves slightly in bullish manner.
(iv) Target price is based of previous high before the market price fell.
When buy when spring is formed and set TP at half the target and use risk management (lot size=0.01). If market doesnt comply close order. RR=6.77
Have a nice day!
(i)Institutional candle could act as a point of indication if passes through it that the market is moving upwards on a long term basis.
(ii)London open price moves lower might be an indication that price will also move lower during New York open.
(iii)New York price moves slightly in bullish manner.
(iv) Target price is based of previous high before the market price fell.
When buy when spring is formed and set TP at half the target and use risk management (lot size=0.01). If market doesnt comply close order. RR=6.77
Have a nice day!
