140.00 We going down baby! Look at how much of a strong level this is, you know the score now so look back at how many times price hit this level and bounced off it. The higher the timeframe the stronger the level and more likely it is to produce a bigger move.
Working off key levels alone is classed as higher risk which is why you will sometimes see me use trendlines as another confluence, but i like trading off just key levels at round numbers as this is how the big players trade so why not replicate what the successful people are doing?
Price has been bullish since March but if you zoom out on the chart we are still in an overall downtrend so the bullish moves since March is just a pullback before price moves down again from my 140.00 level.
Remember this is a swing trade so do be surprised if you go into a little drawdown.
Come have a chat if you want to know anything.
Working off key levels alone is classed as higher risk which is why you will sometimes see me use trendlines as another confluence, but i like trading off just key levels at round numbers as this is how the big players trade so why not replicate what the successful people are doing?
Price has been bullish since March but if you zoom out on the chart we are still in an overall downtrend so the bullish moves since March is just a pullback before price moves down again from my 140.00 level.
Remember this is a swing trade so do be surprised if you go into a little drawdown.
Come have a chat if you want to know anything.