Trend and levels - page 69
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EUR/USD, on the release of the Fed interest rate decision gave the pair an upward momentum, intraday we have an uptrend as the direction for tonight
Euro/American Dollar, on the release of the Fed interest rate decision gave the pair an upward momentum, intraday we have an uptrend as the direction for tonight
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that's for sure!
EUR/USD, Thursday morning
Hit support at 1.17041 of the monthly rank
D1, the day ended with the daily bar closing deep below the level, and until now, since the start of the Asian session, only a pullback is visible
English Pound
D1, jagged chart, after yesterday's struggles
Intraday, there is a small corrective pullback, in acceleration
Canadian Dollar
D1, Uptrend
Intraday, already Downtrending, corrective
Gold
Intraday, Downtrend broken
On the Euro, the mirror level of 1.17519 has appeared, which is the key level, from it was a rebound followed by an OverLow, so if we approach it, now from the bottom upwards, then from it to the breakdown, to the long
Do you have any success with trends and levels? Does anyone know the reasons for changes in the trend? And why do all traders use levels at different prices?
There are successes.
The trend changes direction for a single reason, the imbalance between buyers and sellers changes, when the trend goes up, buyers dominate, when it goes down, sellers dominate.
Regarding levels, levels are where the change of dominance has taken place. If we are talking about levels that are visible on the chart, and the fact that traders use different levels is a matter of trading approach, they have different levels. For example, traders with the same trading approach all use the same levels.