1 Attachment(s) https://www.nigeriaforextrading.com/...art-trade.html
1 Attachment(s) https://www.nigeriaforextrading.com/...art-trade.html
April
Trade 7
The pink arrow is a wrb gap and determines controlling vendors.
Price goes on to make a new low.
Later it neglects to continue down and starts marching upwards where it tags that the commanding vendors and heads again.
On its way up to the commanding sellers price takes out a tail.
Although it hasnt' formally made a new top in this stage there is a feeling that price will take out the commanding vendors.
No warranty but taking the tail out is great enough to buy the return with the concept that price will take out the commanding vendors and head up for a new high relative to this new swing being formed. The blue rectangles signify the new swing.
A new set of buyers is established after a retracement from taking the tail out and price eventually takes out the commanding sellers with a wrb gap to the upside (pink arrow at right).
3:1 is shown and it moves to target.
April
Trade 8
Price swings upward (blue rectangles) and strikes sellers. There was a short commerce to be had in the top down to the gap at which buyers swapped sellers. I, however, would be looking for a return to the swap area and then a long.
The blue swings are small swings. Price expands (anticipating the fork) down to the swap area. The mild orange rectangle is a potential greater low and suggests that price has the potential to grow and make a new high. It is of course not supported until price actually makes a new high. The trade is based on this possibility.
When price hits the swap a very long is put and price does grow and the fork is made.
The swap area is purchased and price does barely attain a 3:1.
Chart corrected. Sellers still here with the outside buyer showing them. Price testing this today but wants to take this out to consider buying. Why don't you market? Well in this case might be selling into buyers and in addition we are at a comparative low so selling lows is generally ill advised.
As price moves down the distance to the unfilled gap increases.
This creates a transfer to the unfilled gap interesting.
For now only after.