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Re: Average Daily Range Trading
JADragon3, Thu Aug 17, 2017 7:26 pm
AUDUSD broke above it's Average Daily Range of 74.5 pips based on the Heiken Ashi Median price / Instantaneous trendline / Non Interpolated Moving average. Since it is above that range , I would expect it to close the day somewhere around ASIA open. At the very least , test the ASIA open area for a move back into daily highs. Price is also moving into what I perceive to be a Seller supply area. Above the range would be overbought for the day. If it drifts slowly down towards daily open , I believe we could see a small continuation to the upside. For the remainder of the day , I am looking for a possible sell based on price action and overbought daily range.