We have a new wide balance with the range 1.55-2.37. For new mid-term up trend this wide balance must goes up. For this the price must show a breakout of the resistance zone ("sell area" on the chart). Another important key point - 1.7919. This is a POC level (point of control or max horizontal volume for the period) of the little balance. If this level would be breakdown the price will go to the lower border of the wide balance - to the 1.55-1.60. The situation on BCDBTC -6.77% is similar.
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 1-3 fixing movement.
hi sir.any update? seems it cant breackout 1.9 support level or 2 resistance level xD.i totally lost//
AaronF
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Any update so far?
mooncatcherpro
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@AaronF, trading inside the balance from area 1.75-1.79 (support) to 1.95-1.98 (resistance). If the price will breakout resistance - new upward impulse to 2.35
But 2.03-2.05 - strong resistance too (POC)