|HiddenGap ||Nov 17, 2019 4:08pm | Post# 503743 |
The highest volume bar on #GBPUSD chart (1) established a range between 1.3 (resistance) and 1.28 (support) levels...
The trend on the Daily is Bullish.
As for the 240, Buyers are now in control of this market.
1. Price is above HB
2. The Volume Gauge is Green
3. Since around 11/09 No BUYING AGGRESSION
bar has had its low taken out (closing below). However, the see the highs of many SELLING AGGRESSION
bars being taken out (closing above).
4. Friday's bar is a DOWN bar on volume less than the previous two intervals. That is No Supply (NS)
. An UP bar on Sunday/Monday would confirm this.
I like to enter at HB, HVZ (H), or HVZ (L)
. The Market offered a nice entry on the Level 2 BUYING AGGRESSION (Cimber) bar that closed above HB and took out the high of the Level 2 SELLING AGGRESSION (Drifter) bar.
A second chance entry came on the 2 Bar Reversal (2BR)
But a confirmed No Supply (NS)
in an Up trend is also a reasonable entry.