This idea shows how easy it was to identify a massive opportunity on BTCUSD with the Levels and Zones indicator.
Basically, after days of sideways movement, the pressure started to build up and ultimately a massive explosion took place!
First, the Resistance Level moved significantly down (hence pushing price lower), then the Support Level made its move up (hence pushing price higher). Give it a few more time for the pressure to increase further (price is forced to move into a tight channel) and then the explosion takes place.
You can find a similar setup before most of the major impulsive movements across any asset and timeframe. First, pressure builds up then, the explosion takes place!
Basically, after days of sideways movement, the pressure started to build up and ultimately a massive explosion took place!
First, the Resistance Level moved significantly down (hence pushing price lower), then the Support Level made its move up (hence pushing price higher). Give it a few more time for the pressure to increase further (price is forced to move into a tight channel) and then the explosion takes place.
You can find a similar setup before most of the major impulsive movements across any asset and timeframe. First, pressure builds up then, the explosion takes place!
Using an Eight (8) minute time frame...
Thanks!
Very impressive....
Gives me something to think about as those trades would have brought in some good Pips.
I realize 8 M is unusual but I figured if it worked on that it easily will work on more conventional time frames.