As the market continues its sideways movement it is a good idea to keep cognizant of important key levels of S&R as well as the 50 SMA and 100 SMA. When markets move sideways for an extended period of time ensuing price action on a breach of major S&R or an MA can be quick, therefore you want to be in a position to execute.
Tag Archives: price action
Bearish Gbp/Usd
The pair went into Long mode on 16th Nov and has held that momentum read. The flows of sentiment from overbought to oversold are readable, and reliable, and are right now overbought. The price action is in a sideways channel, but the near-term trend has allowed the tests of support…