Ive labeled the chart to help show the tools used to make the projection.
(projection not prediction)
Orderblocks:
Orderblocks are areas where lots of trapped traders were left behind in the past. They represent high traffic areas where price action finds support or resistance.
Volume Profile:
The volume profile is an amazing tool that lets you see high ares of buying selling for the given range you pull it over.
The white line is the Point of Control (the main control price for the traders)
Fibonacci Retracement Tool:
There's this amazing golden ratio found in all of nature. This tool is built on that mathematical sequence. The 618 level is a strong magnet for price action. Its always a good idea to see where price "could" go next. Watch how price can respect one of those levels in the future.
The Projection:
Im assuming of course. assuming. Price action can dip down and find support at one of the golden pockets below. If this happens then i believe the move up could then break through the current orderblock traffic areas and find a traffic jam up above to the blue marked target area.
Im looking to long somewhere around .88 ish and set a good stop loss.
Not financial advise.
(projection not prediction)
Orderblocks:
Orderblocks are areas where lots of trapped traders were left behind in the past. They represent high traffic areas where price action finds support or resistance.
Volume Profile:
The volume profile is an amazing tool that lets you see high ares of buying selling for the given range you pull it over.
The white line is the Point of Control (the main control price for the traders)
Fibonacci Retracement Tool:
There's this amazing golden ratio found in all of nature. This tool is built on that mathematical sequence. The 618 level is a strong magnet for price action. Its always a good idea to see where price "could" go next. Watch how price can respect one of those levels in the future.
The Projection:
Im assuming of course. assuming. Price action can dip down and find support at one of the golden pockets below. If this happens then i believe the move up could then break through the current orderblock traffic areas and find a traffic jam up above to the blue marked target area.
Im looking to long somewhere around .88 ish and set a good stop loss.
Not financial advise.
Comment:
Working our way down. Had a nice push back up then rejected from...........The POC (point of control white line of the range) volume profile + the Yearly vwap level. Funny how TA seems to work.
Comment:
Target Hit Dec 4th
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