Wouldnt bother me if 1.05 reversed it. I was planning on take 1/3 -1/2 of a position there and then waiting to see if it heads to 1.06. ill probably still plan on that.
Good day SG, was just looking at some correlations. Really been into correlations lately. NU has an -85% correlation with UCAD, NU is about 50 pips from a 4hr demand zone, so that adds strength to your thoughts UCAD may turn at 1.05 which is about 50 pips away.
I have been playing with weekly and monthly pivots on my 4hr chart and have noticed that the zones often form right on the pivot or the pivot runs right through the zone, droping to a lower time frame 1hr or 15 min and changing to daily pivots noticing the same happens, seems to happen too often to be coincidence. It seems with these pivots you can anticipate were the next zone may occur.
Also wanted to share this, I was looking for a way to incorporate HA candles on my chart and found this Heiken_Ashi_smoothed_Alert_Lines indie. Instead of candles it has MA type lines, I checked it against HA smoothed candles and the cross occurs at the color change of the candles. I'm liking it alot. It also has a pop up alert for the cross.
Here is a chart of the 4hr Beast with HA lines and weekly, monthly pivots and there relationship with the zones
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