The early part of January gave clues suggesting price may move up towards the Q4 high.
In this case switching from sellers to buyers. The green box labelled Rotation Bullish when I see a price pattern like this, I view it as possibly market movers switching sides.98200, this did not happen as price broke out of the sideways box, up. 97364 then it would need to break the structure low if. 98200 and this level held throughout January as price moved sideways early on. The end of December had put in a new structure low at.Now, in this case, I need to read price action to see how Q4 high was reached instead of the Q4 low. Chart 2 has two red horizontal red lines which were the highs and lows as identified on chart 1.I will now use these identified levels from chart 1 to read and interpret Q1 2013, chart 2. 98800 is broken, as price came back to it, buyers were not liking this price level and therefore price continued further down establishing a new structure low at about. Later in the quarter, early December, the SL at.That is exactly what happened and a new HH was set in Middle of November. It would be highly probable to expect buyers to outnumbered sellers here and price should move back up. 98800 price then came back down to it, again. 98800 it suggest buyers are outnumbering sellers. 98800 is broken, to the upside, it suggest sellers no longer find this price level attractive and sell less, if at all. This suggest below the line sellers are stronger than buyers and therefore affect price more.98800 which then becomes the structure low (SL) support in early November. Early in the quarter structure high (SH) resistance is about.The first chart identifies 4 lines: the periods high, low, and it’s structure high and low.Here, I am using quarterly segments as forex trading requires patience in regards to time. Then use these to read and understand why price moved as it did during January to March 2013. To begin, I will identify the key horizontal lines from October – December 2012, Q4. Using the previous quarters high and low along with interim structure highs and lows to gain insights of price direction
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