I received a question from a client about which bank levels are best.
In June I made a video to answer this question, I used the EUR/USD as an example. In the video I was looking for 1.07 to be targeted, which came good so I am happy about this.
The answer to the question is that no one bank level is better than another. What we are looking for is a conglomerations of levels tightly bunched up and more or less at the same price area.
To achieve this and to be able to see the conglomeration, some experience and testing is required putting levels on and taking them off and sometimes changing time frames.
In the June video, you will see me on the 1 hour time adjusting the levels until I obtain the bunched up and grouped levels with white spaces in between, typically of course these are the most recent levels which is what people are looking at. The white spaces are where price can travel to the next level.
On the blog you will see two videos, the June video and a second video from last night which is looking at the current situation.
What I am currently looking for, is a fall back in price to the levels which are currently underneath price at this point, if price drops to the level this is where i will be looking for longs.
I will be sending out further emails later this week on the new structure of the web site and EA work which is ongoing as well as the MT5 small account challenge.
