Confluences - 80% Rule + Psy Low + High Volume Recovery
Updated
Price action has just completed a move back down to yesterday Value Area Low.
This price movement is also known as the 80% rule.
It has now three confluences
1. pdVAL (previous day Value Area Low) - Support
2. PsyLow (Psychological Low) - Support
3. High Volume Recovery Zones (red zones to be recovered).
Trade safe this is only a trading idea.
This price movement is also known as the 80% rule.
It has now three confluences
1. pdVAL (previous day Value Area Low) - Support
2. PsyLow (Psychological Low) - Support
3. High Volume Recovery Zones (red zones to be recovered).
Trade safe this is only a trading idea.
Trade closed: stop reached
Not every trade goes to plan. 1% stoploss hit. Time re-evaluate.
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