Hi EV and gang.....a great set up at the London Open after the Frankfurters failed to push cable above the 4300 level.
I'm now trying very hard tp stay much longer in these 5 min entry trades, and as the 4300 area shows loads of resistance on the 30 min and higher charts, I was looking for at least the 200 level to be tested.
The long candle thru that level opened the way for a continued fall and the extended dashed lower band and 150 level finally gave support for a 100+ pip trade
The 10:30 UK news provided a spike to new lows - again with price extended and the higher low 15 mins later was a great low risk buy, with an add on at the pull back to the 150 level.
All classic Price Action around The Levels......
I'm now trying very hard tp stay much longer in these 5 min entry trades, and as the 4300 area shows loads of resistance on the 30 min and higher charts, I was looking for at least the 200 level to be tested.
The long candle thru that level opened the way for a continued fall and the extended dashed lower band and 150 level finally gave support for a 100+ pip trade
The 10:30 UK news provided a spike to new lows - again with price extended and the higher low 15 mins later was a great low risk buy, with an add on at the pull back to the 150 level.
All classic Price Action around The Levels......
Trading Levels with WRBs