This level it doesn't have any worth , i mean it is not strong support or resistance now. but why?
buyer bought in this level and seller sold for a long period of time , so there is not imbalance order here and now when price reach this level from higher or lower surface it can break it easily. and cause of unresolved surface in lower level we predict the price will go down ,even if price goes up temporality.
buyer bought in this level and seller sold for a long period of time , so there is not imbalance order here and now when price reach this level from higher or lower surface it can break it easily. and cause of unresolved surface in lower level we predict the price will go down ,even if price goes up temporality.
Note
hiafter 1 day we can see price went higher level and now coming back to the determined level (14.7) and according to the previous description if price reach the 14.7 level , we expect that level will be break. and if price couldn't reach that level it comes back from higher level again.
Trade closed: target reached
and finally it happened be profitable
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Related publications
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.