look at the picture
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| trend line, EW count, S/R shown 1 hr chart. |
See trend is down.
swing high is 1.3020 this is the resistance in 1 hr chart.
Swing low is 1.2886 this is the support
now look at the present price it is 1.2932.
the price is near resistance .
Stochastic is below 50 and going down.
So it is the time to put sell with SL at resistance level.
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| Also look at fibbos fan, The price is respecting 61.8% retracement, |
TP
What happens when Support or resistance broken.?
When support or resistance is broken, we will go for to see strength and weakness of trend.
- MACD,( Moemntum, whether big or small)
- RSI (momentum big or small) Sharp rise , steppyness, low deepth with high projection
- ROI,
- Bill williams.
- MA steppyness,
