#BCH Volume Analysis Prediction 9/03/2018
The price is in the balance with the range 604-660.
As long as the price is in the balance, we trade only from it borders. Otherwise, the stop loss will be your friend.
If this balance goes up, with a high probability the price will breakout 700. First target – 710.8.
If this balance goes down the price will fall to the support levels 575. This level is very important – it’s key point.
The way the price will behave at this level, will show us whether the price will continue to rise or fall.
If the reaction is weak, without , the price will fall to 530.
If there will be a large or/and the initiative of buyers, in this case we can try to buy after a little pullback, but not to sell from the outside border of the balance.
Remember – trading is a game of probabilities.
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded .
- Value Area (V A) – The range of price levels in which a specified percentage of all 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.