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Boomerang

Navigating the USDCAD 23 Sep 2019Last week's range was approx 100 pips whilst the 20-week AWR was 151 pips. It was a "miss" hence I am anticipating a price expansion (weekly) probably hitting 10% more than next week's 20-week AWR, which probably be around 160-170 pips give or take. My bias for USDCAD is bullish hence I am looking at "support" levels to go Long. If price enters in the liquidity pool at 1.31950-1.3200 and 1.32170-1.32380, that will activate my bullish mode and will LONG if there is a trigger for me to do so. My potential targets are illustrated in the chart: the liquidity pool on the upside at 1.33050-1.33200, Boomerang Level** and the 20-week ADR upside projection **you can read here to understand the Boomerang concept : There is no risk event for the U.S and Canada
Long
by sufiansaid
Looking at the Right Side of the Chart : EURGBP 13 SeptemberThanks to liquidity run before the ECB rate decision towards .88900 - .89000, it activated P1 (Price broke and close below Tuesday-Wednesday low) and I am intraday bullish bias for EURGBP. There are two potential targets for my bullish intentions for this pair which are the 20-week average range (upside projection) and the Boomerang target. If you do not know what is Boomerang target, please find the linked post below or click here :
Long
by sufiansaid
1
Boomerang EffectBased on the market behaviour that:- "prices tend to return" "Same Seiden's Supply and Demand concept", "Banks always split their orders hence price tend to go back so banks can put their orders again" hence the concept "Boomerang Effect". Some traders mark big candles as a "leading indicator" that price tends to return to that price, think of a magnetic effect. I personally use a candle that closes above/below the Bollinger Bands (20, std dev 2.0). When a candle closes above/below, I mark that specific candle's Open Price (almost copying the Sam Seiden's method marking the Supply/Demand level). The chart above is just an example. If you just scan around the charts to the major pairs, it does occur so many times (the boomerang effect). Does it happen 100% of the time? Of course not! Reason? Banks never split their orders all the time. The price fluctuates because it is moved by people, it is real, it is a living thing the market. There are times when they just do not want to buy again at the same price especially if it is deemed too expensive. Tell me what you think? What kind of strategy you can incoporate this.
Education
by sufiansaid
2