Dislikedhi ken, thank you so much for you posts on here,
i was wondering , with regards to the swap zones, when they are clean break through like below(even on lower time frames) how do we go about trading them
do we use previous support as our zone? or do we not trade them?Ignored
The thought is that it takes a abundance of Demand to break the Supply level. So we believe that there is at least some residual Demand orders left over in that area. The lack of any type of sign , a Spinning top or Doji or even just the crossing of wicks. Will not give us much as far as setting our stop or seeing a great spot to enter.
But as you said we can fall back on the old classic comment that resistance becomes support and we know that some will take this trade based solely on that ideology. So we can 1 pass and wait for a clearer level or 2 take the chance knowing that it is a bit higher risk than we would like so we can be on our toes and be ready to exit with a few or BE ( Break Even).
This huge moves based of commentary and not on factual numbers, always make me a bit nervous as far as their ability to hold price after a move. Oz has been more bullish looking to me over the last couple of weeks .
But just beware you know you don't see anything and treat it as a higher risk trade. or just pass and look elsewhere , always trades out there.
Good Trading To All ; Ken Lee