start looking for lower high and lower lows on the 4 hours for signs of weakness. also, look for demand zones to fail and supply zones to hold - if we break 1.34 are, look for a retest or the line then jump in
see image and notes below
lots of consolidation here - so far it has not made much gain into the supply on top of this zone. watch for price to eat away inside this zone. becuase the drop from the zone was fast we will probably see a pull back (down) but it will happen after we go into the zone a little deeper. the pro's are waiting to be inside the zone before they sell this
what do you guys think of the levels on levels?
Price on this chart is going down to the next demand area. Nov1 2012
After the US election is done we should see some movement. Markets have been dry.
Watch for the break of the up trend line. Then watch for price to hit the demand area for a buy.