We are in balance now. If the balance goes up then a new uptrend will begin.
So if the price breaks out level 1335 and holds above, we must wait for a correction to upper/lower balance level.
On intraday chart we have a strong bullish trend.
Trade recommendation:
Entry point: 1352 (buy limit) after break out.
Stop: 1140
Target1: 1600
Target2: 1750
Target3: 2000
Glossary of terms
So if the price breaks out level 1335 and holds above, we must wait for a correction to upper/lower balance level.
On intraday chart we have a strong bullish trend.
Trade recommendation:
Entry point: 1352 (buy limit) after break out.
Stop: 1140
Target1: 1600
Target2: 1750
Target3: 2000
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.
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