Hi, friends.
Interesting idea - price action pattern Over&Under.
(looks like Head&Shoulders, but with change of structure).
We can try to buy from the current price or wait for a small correction wave to 400-401. If the price breaks down
level 390 we will see a fall wave to 360.
Trade recommendations:
Entry point: 401 (conservative) or 409 (aggressive)
Stop: 385
Target1: 450
Target2: 480
Glossary of terms
Interesting idea - price action pattern Over&Under.
(looks like Head&Shoulders, but with change of structure).
We can try to buy from the current price or wait for a small correction wave to 400-401. If the price breaks down
level 390 we will see a fall wave to 360.
Trade recommendations:
Entry point: 401 (conservative) or 409 (aggressive)
Stop: 385
Target1: 450
Target2: 480
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.
Trade closed manually
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.