The Algo That Keeps Giving
But for how long?
There really is no way to tell when this remarkable repeat of market structure is going to end, but we’ve been following it as an edge for more than 2 years now and will continue until it is invalid.
Unfortunately for the XRParmy the structure does suggest 1 more round of new lows.
The ratio has not been perfect so it is important to follow proper trading strategies. Is the price action like the last blue bar print and thus rolling over in the coming weeks…or is it going to be a longer cycle and thus this last rise is the first of 3 smaller rallies off the previous support level? Who Knows!
If the structure does invalidate to the upside it would be off of the last support printed. Therefore worth it is watching the volume to see if it is worth buying dips. Market structure didn’t even demand alarms being set for a long time, but that strategy should be revisited.