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| EURUSD H4 |
After break of 200EMA, focus comes on horizontal support area. This area has been on-off as support & resistance.
A break of this area calls for more downside and bring focus to channel's lower trendline.
I will watching this area closely and will see how price reacts when Europe comes in. I plan to go short on break and hourly close below this area.
It does makes sense.
ReplyDeleteYeh, its a nice setup. Did you hop-on this trade.??
DeleteRead here, http://www.swing-trade-stocks.com/moving-averages.html that price don't bounce off moving averages but rather at a fixed price where orders by significant traders are made to defend the support line that translates to their trade.
ReplyDeleteDoesn't that mean that plenty of traders brought at touch of moving average.??
DeleteFrom what I understand, the traders don't use moving averages to trade, rather, at a price they are unwilling to lose.
ReplyDelete