Week Review: 28th March to 1st April 2016

20160401_13500t_Week_00

To review the action of the whole week we use a 13,500 ticks chart and reduce the indicators to only XBP Bulls and Bears Support and Resistance (XBP BB SR) , XBP Tape Players and XBP Key Market Times. We recommend to keep this screen always open during your day trading to give you context of the action over the span of the last 15 trading days.

To analyze the action for this week we will split the analysis in two different parts. In the first part we will identify the key levels based on the XBP Bulls and Bears Support and Resistance (XBP BB SR) levels, looking at those price levels where we had the most supports and resistance levels printed.  In the second part we will do the same using the XBP Tape Players indicator instead, looking at those levels where we had the highest volume entries (green bars).

Part 1: Week analysis based on XBP BB SR indicator:

20160401_13500t_Week_11.png

 

Part 2: Week analysis based on XBP Tape Players indicator:

20160401_13500t_Week_21

Identifying the levels that are in both charts will give us the key support and resistance levels generated during this week and that we will keep an eye on for next week:

From top to bottom:

  1. 2060
  2. 2050
  3. 2035
  4. 2025

From these 4 levels, the 2 most important are 2060 and 2035. Both levels have been the strongest support and resistance of the week.

If prive continues above 2060, I will expect 2060 to act as a support at some point during next week whenever the market goes to test this level again. I expect the support to hold due to how strong it was during Wednesday and Thursday as a resistance during this week.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s