Harmonic Analysis - page 187
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why? I was about to give answer, lol
Cuz I knew you were gonna say "No" lol. I posted a different example.
Cuz I knew you were gonna say "No" lol. I posted a different example.
on your eurgbp too much trading in the area, although you can take this one as counter trend, the cypher up there will be very good in terms of S&D area. - fresh, and a nice departure from the area which price haven't came back yet to it.
Irad, what do you think about this? Is this a demand zone or former-resistance support area?
support become resistance = swap level
where a new area of supply violated, very often forming a demand area:
on your eurgbp too much trading in the area, although you can take this one as counter trend, the cypher up there will be very good in terms of S&D area. - fresh, and a nice departure from the area which price haven't came back yet to it.
support become resistance = swap level
where a new area of supply violated, very often forming a demand area:
So price structure of S/D,
1) Drop- Base- Rally
2) Rally-Base-Drop
3) Rally-Base-Rally
4) Drop-Base-Drop
The base is the key. The base becomes supply or demand, is it correct?
P.S. You were not supposed to see the EURGBP ;P
So price structure of S/D,
1) Drop- Base- Rally
2) Rally-Base-Drop
3) Rally-Base-Rally
4) Drop-Base-Drop
The base is the key. The base becomes supply or demand, is it correct?
P.S. You were not supposed to see the EURGBP ;Pyeah, the base is important, and a big candle confirm the level as area of supply and demand.
I know I weren't suppose to see it, but it was good example of this thing.
yeah, the base is important, and a big candle confirm the level as area of supply and demand. I know I weren't suppose to see it, but it was good example of this thing.
How about this? I think this is a good example. Look at the bull candle. This week price came down to the area and reversed. Do yo consider it's a demand zone?
it seems perfect level,
go down from 1h to 15m chart and see not too much trading in the area. see that this level not only fresh but also original - it doesn't created because of a reaction to a level on the left it's just appear out of no-where.
also nice formation of drop-base rally making profit margin of at least 1:3.
it seems perfect level,
go down from 1h to 15m chart and see not too much trading in the area. see that this level not only fresh but also original - it doesn't created because of a reaction to a level on the left it's just appear out of no-where.
also nice formation of drop-base rally making profit margin of at least 1:3.Take a look at this. Do you think the price area within the eclipse can be demand? I'd say it's a support area. After price bounced, noticeable bull candle appeared. I'd say that's a demand zone. Later price came down to the area and revered. Sam Seiden mentions "this is pivot high/low, not supply/demand" but I don't quite understand what it means. I mean why it can't be supply/demand? It's just support/resistance? Are you familiar with it?
Take a look at this. Do you think the price area within the eclipse can be demand? I'd say it's a support area. After price bounced, noticeable bull candle appeared. I'd say that's a demand zone. Later price came down to the area and revered. Sam Seiden mentions "this is pivot high/low, not supply/demand" but I don't quite understand what it means. I mean why it can't be supply/demand? It's just support/resistance? Are you familiar with it?
look at the formation of where he said "that a pivot high"
you see all that junk of that trading activity going sideways to the upside
and suddenly price dropped,
that's why he called that pivot high and not a supply zone,
because there is not a actual area of supply and demand imbalance
the eclipse can be a fresh and original demand area - not reaction to previous level and nothing on the right(look up/down and left to find original levels, look right to find if level is fresh).
AUDUSD daily - My prediction on the pair is that the pair has reached structure support level, hence it could rally to previous support which is now resistance and then come down again to complete the potential bullish cypher. Or else the pair may just continue coming down and complete the cypher. Any input on this?
I saw some trader saying this was not a valid bat pattern on NZDUSD. To me this was a vlid pattern and grabbed some pips. Price completed the pattern and it rallied back up. Where to? previous support level which became resistance. i.e. it was possible for price to bounce at that level and what happened afterwards? Price did bounce at that level.