169 gives important info. on all TFs today

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I didn’t have much luck trading the 169 as a level by itself, but it is an amzingly powerful level when used in conjunction with overall PA context. On 24th April, it gave some important support and reversal levels

On the M15 chart, the 169 was at confluence with the daily pivot and marked the low of the first 30mins cash trade

On the M5 chart of the same PA, the 169 and pivot confluence marked a short double bottom

The market is in an uptrend at the moment and on the M1 chart, the 169 was a long way from price, but after a ranging opening session, it had caught up and marked the mid-morning low on the nose

169 SMA (M1 Chart), 169 SMA (M15 Chart)

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Updated on 24 April 2019

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