MOR/Control
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I did this exercise for both EUR/USD and GBP/USD on 5th May between 10:00 and 14:00
With EUR/USD I felt that the market was undecided and moving sideways until 13:00 when the buy signal showed itself and by 15:00 it looked to be a strong buyers market at that time.
And the GBP/USD showed a buy signal at 15:00 so it was a strong buyers market.
This was very challenging for me to do and so I hope I have done it all correctly. I have attached pictures of my screen prints.
Hi Susan, you’ve definitely got an understanding of the concept and the feeling of being challenged is a good thing, it means you are building brand new skills 🙂
Can you zoom out to the daily charts and see if it makes things clearer for you? Remember that we use the MOR and Control on the daily chart to give us a buy/sell bias before we start to focus in on the shorter timeframes.
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