Lesson #8 - SpringGreen - Support
SpringGreen levels are very good support from the beginning of the Asian session until about two hours before the start of the American session. Of course, during the American session, this level can also be strong support, but there have been instances where this level was breached during the American session, and it took several days for a retest. For short-term trading, this is a considerably long period to wait for the price to return to this level. Hence, it is advisable to consider this level as support only until the start of the American session. The level acts as support in areas where it appears as a "solid line," but historical data shows that its optimal effectiveness is until 11:00 AM GMT.
Characteristics of SpringGreen Levels
SpringGreen levels, part of the DML levels for the EURCAD currency pair, are characterized by precise price reactions when reached. When the price approaches the SpringGreen level, it often finds solid support, preventing further declines. This dynamic highlights the critical role of these levels in stabilizing the market and supporting the price in short-term perspectives.
Models for Trading SpringGreen
There are two main models for utilizing SpringGreen levels in trading strategies:
Bounce from Support Level: This strategy involves observing the price as it approaches the SpringGreen level and opening a long position (BUY) upon a bounce. Traders expect the price to bounce off the SpringGreen level, creating an opportunity to enter a trade in the direction of the bounce.
Return to Breached Support: In situations where the price breaches the SpringGreen level, it is assumed that the price will return to this level. This strategy is useful in long-term analyses where the return to breached support can significantly improve risk and capital management.
Additional Tips
It is worth noting that when the SpringGreen level is retested, the price does so very precisely, allowing for very precise entries in line with the established trend. Data for the SpringGreen level is provided throughout the day in 5-minute cycles. Typically, between 15:30 and 16:30 (GMT), a Flow Zone appears at this level. This is a very important zone for the SpringGreen level. You can learn more about how to trade the Flow Zone (FZ) by studying the lesson on DarkOrange levels.
Summary
SpringGreen levels, as an integral part of models related to DML levels for the EURCAD currency pair, offer unique opportunities for identifying key support points and managing risk.
Their application in trading practice can significantly enhance investment efficiency, providing precise tools for analyzing and predicting market movements.
Examples of Price Reaction to SpringGreen Levels on EURCAD
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Advanced sets of DML levels for the EURCAD currency pair
SpringGreen
A package dedicated to beginners with no experience with DML levels.
10 GBP
50 days SpringGreen levels
Free Tools for Downloading and Visualizing DML Levels
EURCAD Edu
A complete package dedicated to those who have completed the educational process.
20 GBP
10 days Plum levels
10 days MediumOrchid levels
10 days Coral levels
10 days Khaki levels
10 days Sienna levels
10 days DeepSkyBlue levels
10 days DodgerBlue levels
10 days SpringGreen levels
10 days DarkOrange levels
20 days Violet levels
20 days Aqua levels
20 days Olive levels
40 days Red levels
40 days Magenta levels
80 days Green levels
80 days SeaGreen levels
Free Tools for Downloading and Visualizing DML Levels
EURCAD Tra
A complete package of DML levels dedicated to active traders.
60 GBP
50 days Plum levels
50 days MediumOrchid levels
50 days Coral levels
50 days Khaki levels
50 days Sienna levels
50 days DeepSkyBlue levels
50 days DodgerBlue levels
50 days SpringGreen levels
50 days DarkOrange levels
60 days Violet levels
60 days Aqua levels
60 days Olive levels
120 days Red levels
120 days Magenta levels
200 days Green levels
200 days SeaGreen levels
Free Tools for Downloading and Visualizing DML Levels
Note: The content of the data packages offered on DeepMarketLevel.com may be greater than what is published on this page. Check the current available offer and always stay one step ahead of other market participants.
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DeepSkyBlue2
DeepSkyBlue2 levels are a support level located further from the current price, similar to the MediumOrchid level – which is a resistance – but below the price. These levels play a crucial role in maintaining the price above this level, providing solid support in medium- and long-term time frames. This level is published in 5-minute cycles.
DarkOrange
DarkOrange levels are closely linked with Violet levels, which you will learn about in the next lesson. DarkOrange levels are retrieved in 5-minute cycles throughout the day. Around 16:00 GMT, a FlowZone (FZ) appears on these levels, for which a special trading model has been prepared. These levels are represented as continuous lines between consecutive FZ.