chart from http://www.netdania.com/
Monday 00:00:00 GMT, our trading week has just started. The day opens at 1.2127. Remember our estimated
High/low for the week is 1.2319/1.2014.
At this point when the week just starts, it’s really hard and risky to take any decisions about what is the
direction the quotes will take, our open of 1.2127 is far from both High and Low estimated levels, so what is my call on this situation?
Monday 00:00:00 GMT
no signals for today.
Tuesday 00:00:00 GMT, The second day of our trading week begins. The situation now is a little better
because Monday has finished and now we have at least one finished bar/candlestick on our chart with the
estimated High/Low for the week. Monday has closed at 1.2052 and during the day it has reached a minimum of 1.2040. Again, our estimated High/Low levels are 1.2319/1.2014.
Monday has been very close to reach our Low level. What is my call on this situation?
Tuesday 00:00:00 GMT
no signals for today.
It seems like price is about to reach the Low level, lets wait one more day to see what happens…
Wednesday 00:00:00 GMT, The third day of our trading week begins. Now that Tuesday has finished, lets see what happened. Price went down the whole day, reaching a minimum of 1.1964 and closing at 1.1967.
Our Low level of 1.2014 has been reached and crossed. What is my call on this situation?
Wednesday 00:00:00 GMT
EUR/USD will rise today.
Entry 1.1967
Tp 100 pips
Sl 80 pips Here is the original signal posted at the group’s message board:
The result? EUR/USD went up reaching a maximum of 1.2057 and closing at 1.2021, a + 54 pips gain.
Now, it doesn’t end here. This first concept of “buy when price hits the Low and Sell when price this the High” is a little more complex.
If you Take a daily chart and you start to calculate DeMark’s pivot points for every week, the chart will look like this: Next Articles
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