Please Note: I am based in the UK so my midnight is currently GMT +/- 0.
Draw lines at the xx00 an xx50 on EUR/USD.
Note the last xx50 or xx00 that the price touches prior to midnight.
On the vast majority of occasions during the next 24 hours price will come back to that level (I realise that 'vast majority of occasions' is not very exact!)
It also seems to work on EUR/CHF and GBP/USD.....and probably others!
I've highlighted some examples on the attached GBP/USD chart.
The problem is price can shift enormously prior to returning and figuring out how to effectively trade it.
Comments welcome.
Draw lines at the xx00 an xx50 on EUR/USD.
Note the last xx50 or xx00 that the price touches prior to midnight.
On the vast majority of occasions during the next 24 hours price will come back to that level (I realise that 'vast majority of occasions' is not very exact!)
It also seems to work on EUR/CHF and GBP/USD.....and probably others!
I've highlighted some examples on the attached GBP/USD chart.
The problem is price can shift enormously prior to returning and figuring out how to effectively trade it.
Comments welcome.