DislikedThanks for sharing, can you please explain the details of your imagineIgnored
The circles and arrows on my image were just showing where price reacted to previous price action from earlier in the day. In this case the previous pa caused price to pull back to the ma's before continuing with the prevailing 15m trend.
The fact that price moved lower initially today before turning North corresponded with a retrace down the prior days wick. Entering a trade up or down a wick is something that is often mentioned here by the senior traders.
In recent weeks the thread has covered the importance of using higher timeframes to identify support and resistance coupled with a familiar entry signal on the 15m chart. Today gave another example of that with the 15m spinning top occurring at (what I had as) 4h supp/res. That level also happened to be +/- 35 pips below the 15m 35sma, a range that EO's method identified as a possible area to look for reversals back to the ma's
Finally, the method also details a trade known as a 35/50 cross and reverse and that played out really well today.
Macc
