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Horizontal Lines on Round/Major Numbers? 28 replies
Round numbers EA request 4 replies
Round Numbers on EURUSD 1H 8 replies
MT4 - Horizontal Round Numbers 0 replies
Possible to plot round numbers? 5 replies
DislikedEvery 50 cents in crude are significant (51.00, 50.50 etc), in my opinion they are more reliable than round numbers in forex and in gold i would say every 5 or 10 dollars. Try them for yourself.Ignored
DislikedYesterday we had an interesting price action around the key 1.4000 level. You can read more about that here:
http://forexsb.com/blog/2009/05/euru...bers-strategy/
http://forexsb.com/blog/wp-content/uploads/eur-rn.gifIgnored
DislikedThe round number strategy is a very effective as Institutional traders like to make hard runs for whole numbers. It's almost a game in a sense for them to reach that number. Ususally within 40 (or so) pips near a whole number, you'll see market volume and momentum way up, in attemping to touch the nearest whole number. And once that whole number has been touched, market usually retraces another 50-100 pips.
If the market touches and passes that whole number, price will usually go another 50-100 pips, past the whole number.Ignored