This is continued from https://www.mql5.com/en/blogs/post/725203
-- As expected by the market, yesterday's FOMC was dovish.
- The question is, where should we pay attention to the EURUSD rising limit?
-- We must find which is Strong Resistance.
- Strong SR has 2 types.
1. Several SR levels are close together between actual SR + Avg Daily Jump/Fall or Weekly Moves in an area
2. Intersection between Trendline + Actual SR
or both in the same time.
Here we found an area which was expected as Strong Resistance on FOMC event :
Strong SR is an area where there are several actual SRs above current price
-- Avg Daily Jump (ADJ) @ 1.14465 + WSR @ 1.14479 + R level @ 1.14465
-- I have reminded this and I wrote in my profile before the FOMC event took place :
- Result *
Students have taken opportunity on EURUSD, start selling at Strong Resistance.
* Everyone has different results, because each person has a different level of psychology. At least they are in the same area.
- Are they confident when placing position sell-limit there?
No. Because the FOMC sounds very dovish.
-- Fed statement says "No rate hikes this year only one in 2020"
That is why, trading is not easy. :)
at least we should use the right tools and technical.
wish you all the best this year.