Hi, friends. After a big bull candle a lot of traders don't know what to do. There a lot of fundamental information from outside. But the trader should not trade expectations or rumors. Good trader must trade only current market condition. What we have now? The balance goes up and the price has reached the POC level one of the previous balances. Now we have a pullback to the main balance borders. I indicated a buy area - it's zone between high balance level and POC of main balance. If this the price will break down this buy zone, it will mean that the bulls are weak and all buy positions should be closed.
Enter: 482 (1/3 of position) 475 (1/3 of position) 468 (1/3 of position) Take profit 1: 501 Take profit 2: 515 Take profit 3: 539 Stop: 462
Glossary of terms
Point of Control (P O C) – The price level for the time period with the highest traded volume .
Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
Balance - Accumulation Area.
F L - flat level.
T L - trend level.
Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 2-3 fixing movement.
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