14. A lesson in Harmony
Dear traders,
Price is now trading horizontally and is supported by the Demand Zone.
A time goes by, we can see things better. The question on all our minds would be if price would continue on its way up or fall again like in the previous occasion. A lot of people may be expecting a 'double top' to take place. If we look at the price action, things may not be encouraging. This should be a reminder for us to be cautious.
So for now, what should we be looking for? I think the answer is quite obvious.
1) After a sharp rise, it would be unlikely price to drop back again.
2) Price is now supported by the Demand Zone.
3) We should be looking for price to move up from the Demand Zone to be SUPPORTED BY THE POC instead. This is important because we would have confirmation that the price rise is now gaining traction and the POC is now accepted as the 'fair price'. If we see that price is traded for an extended period above POC, then we can have a fairly good chance of it rising.
US10Y is now trading at 1.938%. It may hit 2% soon. When trading USD pairs, we must take note of this. The good news is that DE10Y is rising at a much faster rate.
Have a great week ahead.
P/S : As usual, do not just believe what I say. Use your common sense.
Price is now trading horizontally and is supported by the Demand Zone.
A time goes by, we can see things better. The question on all our minds would be if price would continue on its way up or fall again like in the previous occasion. A lot of people may be expecting a 'double top' to take place. If we look at the price action, things may not be encouraging. This should be a reminder for us to be cautious.
So for now, what should we be looking for? I think the answer is quite obvious.
1) After a sharp rise, it would be unlikely price to drop back again.
2) Price is now supported by the Demand Zone.
3) We should be looking for price to move up from the Demand Zone to be SUPPORTED BY THE POC instead. This is important because we would have confirmation that the price rise is now gaining traction and the POC is now accepted as the 'fair price'. If we see that price is traded for an extended period above POC, then we can have a fairly good chance of it rising.
US10Y is now trading at 1.938%. It may hit 2% soon. When trading USD pairs, we must take note of this. The good news is that DE10Y is rising at a much faster rate.
Have a great week ahead.
P/S : As usual, do not just believe what I say. Use your common sense.
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