CADJPY: pattern of price levels formation
The price movement in an uptrend has formed several strong price levels.
You can see a pattern. At each level, there are two equidistant price touches - in the first of them, the level acts as a resistance. In the second, as support.
Now the price has reached a maximum and is at the level of resistance. It will fall to support level 81.61
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
You can see a pattern. At each level, there are two equidistant price touches - in the first of them, the level acts as a resistance. In the second, as support.
Now the price has reached a maximum and is at the level of resistance. It will fall to support level 81.61
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.