Price made a breakout to the downside following a triple top, pull back to the neckline and came off. Looks good for Bearish action? Afraid not. There isn't a follow through after the Weekly Analysis explained: 1) Breakout of resistance level (The zone in grey) 2) Resistance now acts as support 3) 21 moving average has been broken and now acts as dynamic support 4) Price has reached the 50% fibonacci level which acts as an add-on confluence 5) Morning Star Candlestick partten formation, which is a trend reversal signal indicating that buyers...


Thread: 
Thanks
Currently Active Users
Forex Forum India Statistics