Note: The S/R levels (i.e. likely bank trader order levels) as depicted in their respective timeframes in this and prior articles have not changed, and will likely NEVER change regardless what happens in financial markets. What follows is my own world view, developed from an institutional trading career dating back to 1995.
It’s been a little hard to play mainstays like the EURUSD, cable, and the yen because price action had been staying within their current sets for so long, and trading ranges had tightened so much, that I can’t even trade ranges in the lower timeframes.
Hopefully you supertraders on RealTrader Community had better luck! :p
Anyways, today I’m not going to talk about the euro, the pound, or the yen. You can (still) refer to yesterday’s charts for the order levels.
I’m showing Aussie charts today, only because price action on the M5 moved far enough along for me to show new S/R lines there.