Answer to the previous post:
There is always more than one reason especially when breaking a multiple day range. Furthermore, I have been preaching that smart money needs time to absorb orders for two reasons: 1. the orders are not available and 2. even if they were available they would be easily identified by absorbing all them. Considering my previous statement we should always "LOOK LEFT" and not only of what is happening now!!!
The full story of this range has a name "Accumulation"
The reasons that we broke have started 7 days before the break. I have identified some of the reasons (marked on chart):
Increasing IPPR as price approaches support = Buyers - we never broke support
High SI of 18.2, nothing like that on all the up waves, that's a Push Up wave (PU) (since we never broke support) = Buyers
High IPPR again approaching support = more Buyers
High SI again of at 24.4, that's another PU =more Buyers
Final buying with the HTMD wave with SI 25.9 and the PRL signal
Usually when accumulation is taking place for a few days price will move up quite a few pips. As of today price is 150 pips above the break.
Enjoy!
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