Price moved in 3 long body 15m candles from 2460. to 2887. - needed to rest.
Price far away from ma's, needed to center back toward 50 sma.
Macd was far away from 0 level line indicating possible short pull back coming.
I will switch to a 5m chart to watch for the right pull back.
5m pull backs can be powerful because they can retrace back a lot of price.
I watch how price reacts to the 50 and 100 sma to see if they create support.
This pair price has fallen back to the inner range top resistance level as support.
Now we watch to see if price re-enters inner range or moves back above the 50 sma. I will have a bull stop above the 50 sma. I also will have a sell stop @2500.0 just below the inner range top and 15m 100 sma.
Price far away from ma's, needed to center back toward 50 sma.
Macd was far away from 0 level line indicating possible short pull back coming.
I will switch to a 5m chart to watch for the right pull back.
5m pull backs can be powerful because they can retrace back a lot of price.
I watch how price reacts to the 50 and 100 sma to see if they create support.
This pair price has fallen back to the inner range top resistance level as support.
Now we watch to see if price re-enters inner range or moves back above the 50 sma. I will have a bull stop above the 50 sma. I also will have a sell stop @2500.0 just below the inner range top and 15m 100 sma.
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