Review of market action for 26th of January 2016:
- XBP VWAP: First standard deviation acted as a non-horizontal support and resistance level for the whole day. Follow the thin red dotted line to see how price bounced off from the line in several occasions.
- XBP Market Key Levels: The Open Range High acted as a horizontal support level for the whole day.
- XBP Tape Speed: Extreme signals of this indicator are rare, and powerful, in the 4,500 ticks chart. There are 2 signals during the day, the first one a bit after 9am that signals how the stop losses placed behind the 1887-1888 level (Open High) were run. The second signal, at around 11:20 signals almost perfectly the end of the rally. Most probably big players exited their positions at that moment, which is also highlighted by the deep blue price bars which indicates a high volume reading.
- XBP BB SR: This indicator signalled all the market turns perfectly after the Opening session, the first 30 minutes which we don’t recommend anyone to trade.
I hope you can see the value of the indicators playing together to highlight the market movements.