EURAUD act according to boxes with price action trading
Drawing boxes a simple way to price action trading
Boxes present an awesome way of looking at price action and trend visually. The rules are clear:
- Rising trend requires rising lows
- New highs in an uptrend are great for extending the uptrend
- Falling trend requires falling highs
- New lows in a downtrend are great for extending the downtrend
- In an uptrend, previous highs are likely to become support
- In a downtrend, previous lows are likely to become resistance
- An expansion in the opposite direction is a clear sign of reversal
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.
“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.