Hi, friends.
Here is a situation at Bitcoin Diamond.
Down impulse was completed by fixing.
After that we saw a correction wave and then new fall wave with minimum update (retest of fixning).
First the price formed a balance with the range 1440-1720. But then the price made a false break out to 1820.
So the new wide balance is 1440-1820. The price will accumulates in this corridor.
In addition, we have another balance (narrow at this time) with the borders - 1505-1625.
We a narrow balance in the wide balance. But do not worry, this is normal.
If the narrow balance goes up (breakout 1625) the price will jump to 1800. While we are rotating in the narrow balance, we must work only from it's borders.
Glossary of terms
Here is a situation at Bitcoin Diamond.
Down impulse was completed by fixing.
After that we saw a correction wave and then new fall wave with minimum update (retest of fixning).
First the price formed a balance with the range 1440-1720. But then the price made a false break out to 1820.
So the new wide balance is 1440-1820. The price will accumulates in this corridor.
In addition, we have another balance (narrow at this time) with the borders - 1505-1625.
We a narrow balance in the wide balance. But do not worry, this is normal.
If the narrow balance goes up (breakout 1625) the price will jump to 1800. While we are rotating in the narrow balance, we must work only from it's borders.
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded volume .
- Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance - Accumulation Area.
- F L - flat level.
- T L - trend level.
- Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 1-3 fixing movement.