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Microstructural phenomenons: option strikesThere's no such thing as round levels , instead: 1) You open the option chain of given vehicle; 2) You notice the step between the strikes that have significantly higher volume/OI than the other ones; 3) for example on ES dem would be xx50.00 and xx00.00; Without further analytics of the option chain, the very general rule is that these levels usually stop & repel the sharp jumps in prices, and allow the average activity to pass through em with a little stuck around em. Again the reason is microstructural, some of are hedging current & anticipated option positions on good prices. Usually market allows to do it right after economic releases. About the example, if you have any platform that offers a liquidity heatmap, try to find that reversal on ES & correlated assets, that moment in time that I market with a circle, you might be surprised.
CME_MINI:ES1!Education
by gorx1
Round Numbers on Mirror ChartsTradingview provides unique opportunity to watch round numbers both EURUSD and USDEUR. Round numbers do work as support and resistance. Perhaps the only levels that one can rely on. But it should be remembered that American continent watches and trades primarily USD vs EUR, while in Europe it is the opposite case. Watch for round numbers confluence on mirror (inverted) charts, i.e. USDEUR and EURUSD to find true sopport and resistance. The top of eurusd was round number confluence 0.81 - 1.23 level. Right now, the major resistance is 85 level (usdeur). If price will get through that it will stumble at 1.17 (eurusd)
Education
by ICFX
Steem important support level low risk to high probable profit We can clearly see here two very important levels to watch for( marked with two parallel black lines). Level around 0.00013555 which was created by double bottom in the November last year. Above it around 0.00015000 level pair was holding for a while between the end of the December and beginning of the January. Mid of February level was broken and the pair went south very quickly just to rise up in mid March with very high volume. Pair for the last 16 days is testing support around these two levels. I marked three soldiers formation with blueish rectangle which is suggesting trend reversal. I think it would be reasonable to set SL just below lower level. TP area would be around last high around level 0.00032000 or you could just wait some time till the pair will reach 200 ema which should bring some interesting price action. I would definitely close position when the pair will be close to the 200 ema.
Long
by Krystiannwk
2
Gridcoin vs Bitcoin rebound plus interesting breakout formationWe can clearly see here that the support has been created around round number 500. It created false double bottom buy signal in December. Area between mid of February and beginning of March shows interesting formation when pair tried to break the support with negative results. There is second important level which is created by consolidated three GAP's on daily chart. I marked this area with first rectangle. Yesterday big bullish candle went thru 200 ema and all three GAP's. I would suggest to set SL just below 0.00000500(It is rare that the pair will go thru strong support just to bounce back again). TP is set around highest highs from September. I think that 0.00002000 level is reasonable as well.
GLong
by Krystiannwk
2
GBPUSD:Will usher in a new round of decline?GBP continued to fall two conditions required: 1.U. S. economic data must be strong next Monday, the probability is greater than 60%, because the employment data on Friday exceeded expectations 2.Next week, the Bank of England rate decision must clearly release a loose signal My point of view is The pound will continue to fall next Monday and Tuesday. Wednesday, Thursday a sharp shock, waiting for the interest rate decision Friday because Thursday's resolution is uncertain. The specific operation points will be given on Monday.
by Daniel_Wu
8