Something to observe…
From the previous high down to the low the first arrow sits at the eq range which is 44035…So the principle says that we are at a discount from the range.
The second arrow shows the same low and the lower high (FTD zone) Which shows the 50% zone (Eq) as price being at a premium…(above 43153…)
What can we make of this…?
When looking into higher time frame plays and lower time frame, your goal is to try and exploit the behavior of price on smaller time frames by breaking down the visable areas that show interest from short traders and long traders…Establish the direction of momentum to see if price is likely to continue to make it below the premium or back above it…
Again, FOMC statement can simply through this basis off…Yet for some reason i believe they are going to use FOMC to exploit the longs down below…
Still cant get in touch with steve…Especially now that i need him.
Mad Love
T
