DislikedOk, it is almost the weekend so, here is a J16 "Where is price going, where did it go" exercise, for anyone to join in.
Just post a chart with the area you think, this BEOB went to before it started having trouble.
This is how you work out your FTA so while it is a game, it is very constructive.
Don't be shy, new people are welcome to have a try.
I shall post the answer in the actual chart with the bars I removed, 24 hours from now.
This is a Daily time frame chart and, remember, we always look for big bars like this one, at a clear...Ignored
Thanks for the exercise, I was about to ask you to propose one!
OK, won't be shy, Here are my thoughts.
Big fat BEOB engulfing the whole previous box.
A minor consolidation box is just below the big one. This minor PPZ should not be a problem: the candle closed just at this level, and is large enough to drive price through this area.
Price is likely to cross the main PPZ and the ascending TL at the same time.
A longer term trade would require these 2 to act as resistance after price broke through...
Is the size of the BEOB big enough to do that?
looking forward to seeing the answers
Slow & steady