Lesson #10 - Violet
Violet levels are very similar to DarkOrange levels, with the difference being that Violet levels are determined on an hourly basis. The trading models are similar, but in this case, there is no designation of a FlowZone (FZ).
Characteristics of Violet
Violet levels, part of the DML levels for the EURCAD currency pair, are characterized by precise price reactions when reached. When the price approaches the Violet level, it often finds solid support or resistance, preventing further declines or increases. This dynamic highlights the critical role of these levels in stabilizing the market and supporting the price in short-term perspectives.
Models for Trading Violet
Violet as Support until 06:00 GMT (06:00 AM)
These levels are excellent support during the Asian session and the beginning of the European session. If it happens that such a level is breached by the price, the price usually returns to this level before the American session - often much earlier.
Additional Tips
It is worth noting that when the Violet level is retested, the price does so very precisely, allowing for very precise entries in line with the established trend. Data for the Violet level is published in hourly cycles. Despite the lack of a FlowZone, this level is extremely important for stabilizing the price and predicting market movements.
Summary
Violet levels, as an integral part of models related to DML levels for the EURCAD currency pair, offer unique opportunities for identifying key support and resistance 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 Violet Levels on EURCAD Currency Pair
Advanced sets of DML levels for the EURCAD currency pair
Violet
A package dedicated to beginners with no experience with DML levels.
10 GBP
60 days Violet 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
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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.
Olive
Olive levels are generated once a day, around 19:00 GMT. This level consists of three zones. The middle zone is located around the price level at 19:00 GMT. The other two zones are located above and below the middle zone, at equal distances from it. The range of these distances varies daily and indicates the potential movement dynamics for the next day.