Two important demand levels to watch on this pair, specially because there is no fresh supply levels near current price, so we might expect a big reaction on this levels.
Comments
dionvuletich
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I like the first one, although I would have drawn them at 105.22 or 105.07, is there any reason your levels appear to be in the middle of the bodies or covering the wicks?
Daniel.Dalo
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The reason for me is that at that level is where price took off to the upside in a strong fashion, so there is where I think the reaction would occur when it comes back, because at that moment was when demand truly exceeded supply. Although I understand what you mean, is just that I've been watching Sam Seiden a lot lately and this is the way he suggest and it makes sense for me, so I want to try it for myself this way before concluding something.
Thanks for sharing your thoughts, I actually drew it that way first, but decided to give it a try to Seiden's method.