FX Market Reversal Levels for (03 Dec - 07 Dec) 2012

Hello everyone!

Here is the turning points for this week , (03 Dec - 07 Dec) 2012

Important points and notes:

1- These levels are strong support and resistance levels on short term , the market usually respects these levels strongly.

2- I highly recommend using divergence(s) techniques, to find possible turning point during the week !

3- The recommended time frame , (M15,M30,H1) , generally H1 and below .

4- You can also use chart pattern, candlesticks, trend lines and price action to find possible turning point!

5- These levels would help you set realistic targets and exit points, so you can add them to your trading style..

6- The big moves usually come when both trends - short and main - are matched , example, AUD/USD , short and main are up, so at turning points up, expect the market to flyby, sometimes 200 pips or more..

7-These levels will be published weekly...

Best Regards

Haitham

Views: 218

Tags: AUD, CHF, EUR, GBP, USD

Comment by Haitham653 on December 3, 2012 at 1:34pm

Around turning point down (1) , we have long upper shadow candle for EURUSD on the 1 hour chart as shown below, this is reversal candle, let's wait and see what would happen the next few hours !!

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