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EURUSD – what is the meaning of 4 boxes of low?

The use of boxes improve clarity on what you see. In a messy price chart, it is very difficult to see clearly. However, I do discover many new graduates add many different indicators into Tflow® designed price chart of only boxes. This is not encouraged.

What I like to do is to look at clean chart to form a big picture idea. This will also allow me to check whether a previous idea was wrong.

Previously I tweeted on EURUSD on the bearish side, however, I was generally very wary because this is a counter trend trade, which I don’t like.

Subsequently I gave my caution in EURUSD

Ultimately I was stopped out, but because this is a counter trend trade, my trade size was relatively much smaller

When I switched to a clean chart, once again, I was able to check where I’ve gone wrong.

You can see that EURUSD is still very much supported, not forgetting that the overall trend is still up.


EURUSD supported seen in daily chart

This is when you can switch to boxes to form your strategy.

4 Boxes of similar low. The recent H1 box shows bullish expansion


Boxes of similar low shows support


The next step is to look for trigger. The slower but more confirmed trigger will be 13TL and F6. As said in course, it must be on close and I prefer a H4 close trigger



And this is why my tweet mentioned about the bullish expansion and also if price is to rise, the resistance levels in sight.



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