What happens when support and resistance levels trade places? This article looks at how traders can use prior action to find actionable levels to work with.
But along the way there’s a number of deductions that traders can make that can allow for strategy to enter the picture, and in terms of trend,is fairly important. Bullish trends will often price-in a series of higher-highs and higher-lows while bearish trends will show the opposite. But – markets aren’t always trending, as we’ll often see ranges or digestion pop-up when prices are fairly equalized. That’s what brings oncan carry some significant weight.
Each of the blue lines below indicate an area of prior resistance that came into play as support. And red lines indicate an area of support that’s come into the picture as resistance.Let’s get a bit more granular with this situation, using the below chart. We’ll begin with the red vertical line, after which price action puts in a swing at the 1.4013 level .
After that second resistance reaction , sellers push price right back to support, which isn’t ready to give way yet. That happens a couple of months later.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
How Does Bitcoin Price Historically Move 1 Month Prior to Halving?As Bitcoin and crypto market experiencing intense rally, 2024 halving is just around corner; here's what its impact has been historically
Baca lebih lajut »
Gold Price Forecast: Confluence Resistance Stifles Bulls, Focus Shifts to US PCEThis article evaluates the short-term outlook for gold prices, examining various scenarios that may unfold later in the week following the release of U.S. core PCE data.
Baca lebih lajut »
EUR/USD Price Analysis: Hovers below the psychological resistance of 1.0900EUR/USD edges lower to near 1.0890 during the Asian market hours on Monday.
Baca lebih lajut »
US Dollar Closes in on Resistance, GBP/USD Testing Support, Interest Rate Decisions NearThe latest PPI report gave the US dollar a push higher on Thursday ahead of next week’s FOMC meeting.
Baca lebih lajut »
– EUR/USD Testing 200-SDMA Resistance, EUR/GBP Slipping Into SupportThe German economy remains weak and the single currency is starting to struggle against the US dollar and Sterling
Baca lebih lajut »
Gold Price Forecast: A healthy XAU/USD correction looks in the offingGold’s price broke the key resistance of $2,140 last week, with prices rising 5%.
Baca lebih lajut »