Reply To: Practical Exercise 4
Hi Gustaf,
Thanks for posting your examples 🙂
EURGBP-15m: Yes! That’s a nice little cluster of price action you’ve spotted there.
AUDUSD: The support you’ve found is a good level, It’s already had a couple of probes from above (very close although it wasn’t pinged to the actual pip) so it may already have been weakened somewhat. I’ve also sketched in a couple of lower resistance levels for you to have a look at (the one you found is totally correct too).
EURGBP: Great example of support being found and respected – see how the market bounced right off your level around 12 days after the lows had printed? Nice! I’d be vary of using the same level again for support if looking for reversal trades, still a sensible place to use as a sell-trade target.