Hi, friends.
We expected that price finished correction wave at support zone 8700-9000. But now we can see a bull initiative from 9500. Probably the correctional wave ended.
What to do now?
Waiting for a small correction wave to 9700-9850 and then buy.
Trade recommendation:
Enter point: 9700-9850 (buy-limit)
Stop-loss: 9299
Target1: 11200
Target2: 11700
Glossary of terms
We expected that price finished correction wave at support zone 8700-9000. But now we can see a bull initiative from 9500. Probably the correctional wave ended.
What to do now?
Waiting for a small correction wave to 9700-9850 and then buy.
Trade recommendation:
Enter point: 9700-9850 (buy-limit)
Stop-loss: 9299
Target1: 11200
Target2: 11700
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.
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