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Hello Folks.
Started this week pretty nicely. Already on friday price reched institutional key level 1.6820 and we saw how price reacted with a strong bounce off on that level. Yesterday price backtested the very same level, can allso see a Marketmakers sell model unfold there.
Today at london session we saw the price nicely retraced into 70,5% fibo level, allso called as sweetspot, where we can see different action levels to line up: 15 min orderblock, fibo retracement, institutional resistance level, CBDR 1x diviation, daily central pivotpoint, rsi divergence...
Had a nice chance to sell at this level, were planing to hold on for few days on that one, but decided to close trade because there is a strong support at 1.6750, also it`s a 3 times centralbanks dealers range deviation, fibo projection 200% level, avarage daily range filled.
All these indicators line up on that level. Thats how we should decide is these levels strong enough to hold
Started this week pretty nicely. Already on friday price reched institutional key level 1.6820 and we saw how price reacted with a strong bounce off on that level. Yesterday price backtested the very same level, can allso see a Marketmakers sell model unfold there.
Today at london session we saw the price nicely retraced into 70,5% fibo level, allso called as sweetspot, where we can see different action levels to line up: 15 min orderblock, fibo retracement, institutional resistance level, CBDR 1x diviation, daily central pivotpoint, rsi divergence...
Had a nice chance to sell at this level, were planing to hold on for few days on that one, but decided to close trade because there is a strong support at 1.6750, also it`s a 3 times centralbanks dealers range deviation, fibo projection 200% level, avarage daily range filled.
All these indicators line up on that level. Thats how we should decide is these levels strong enough to hold
