Hi, friends.
My view on XLMUSD.
After fixing and last buyers points we have a new balance (consolidation).
Right at this moment as I write this analysis this new balance goes down.
In this case first support level will be
0.2402 and 0.2122 (POC of the last wide balance).
If the price will return back into the new balance in 1-3 bars,it would be a false break down.
In this case the price will go up to the level 0.31.
Glossary of terms
My view on XLMUSD.
After fixing and last buyers points we have a new balance (consolidation).
Right at this moment as I write this analysis this new balance goes down.
In this case first support level will be
0.2402 and 0.2122 (POC of the last wide balance).
If the price will return back into the new balance in 1-3 bars,it would be a false break down.
In this case the price will go up to the level 0.31.
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.