Tonight, I am looking at this setup on EURUSD.
Once the algorithm presents its mode during Tokyo / Sydney, we will have more information on whether this a potential long or short opportunity.
I have notice that the market tends to play between bank levels that are set during the previous sessions.
I call these levels true support and true resistance.
Most traders mark up from what is perceived to be places in the market where it bounces / rejects from multiple times but if deeper analysis is taken, one may find that these levels that the market is bouncing from may be session highs or session lows.
Understand that these are the levels that are agreed upon as a premium or discount buy or sell zone and that the market switched algorithms at this points and places.
If you would like to move with the banker's algorithm, you have a much better chance of catching the money train if you enter at the prices that they set as major areas of institutional interest.
Once the algorithm presents its mode during Tokyo / Sydney, we will have more information on whether this a potential long or short opportunity.
I have notice that the market tends to play between bank levels that are set during the previous sessions.
I call these levels true support and true resistance.
Most traders mark up from what is perceived to be places in the market where it bounces / rejects from multiple times but if deeper analysis is taken, one may find that these levels that the market is bouncing from may be session highs or session lows.
Understand that these are the levels that are agreed upon as a premium or discount buy or sell zone and that the market switched algorithms at this points and places.
If you would like to move with the banker's algorithm, you have a much better chance of catching the money train if you enter at the prices that they set as major areas of institutional interest.
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Join The Hyena Hut and learn exactly how I approach the charts. Contact me on Instagram if you have any questions :)