EUR/USD: ranging bullish within narrow levels. The price is located to be above 200-day SMA and 200-day SMA for the primary bullish market condition with the ranging within 1.1453 resistance and 1.1304 support levels. If the price breaks 1.1453 resistance to above on close daily bar so the bullish trend will be continuing, if the price breaks 1.1304 support to below so we may see the secondary correction to be started up to 1.1063 bearish reversal level as the target. There are the ...
EUR/GBP: breakout with bullish reversal. Weekly price is breaking 200 period SMA for the reversal from the ranging bearish to the primary bullish market condition. if the price breaks 0.7946 resistance so the bullish trend will be continuing;if the price breaks 0.7525 support level so the price will be reversed back to the bearish market condition;if not so the price will be moved within the channel. ...
This article shows how price action and the monitoring of support and resistance levels can be used for well-timed market entry. It discusses a trading system that effectively combines the two for the determination of trade setups. Corresponding MQL4 code is explained that can be utilized in the EAs based on these trading concepts. More...
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