at the beginning of this year, into March and April, we saw the market tackle down here into the.0500-level, the green-shaded area at the very bottom of the chart. This video was directed etc by Keith Hill in 1989. Greg Tuohey had not joined the band at this point. The green trend line coming up from the bottom shows rising low. A push back under the orange zone invalidates the head and shoulders and we look for it to go lower. That is our resistance, so it doesnt make sense to buy into resistance. If I just scroll back a little bit, just look at the double red lines. #usdjpy similar situation here on the usdjpy that we just looked at on the usdcad. Zoom in a little bit.
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Independent Forex Trader Trading Coach Providing Live Commentary and Technical Analysis. That support right there likely to show us where our current resistance. We see support at the orange zone. Were looking for it to either break through this area or it rallies back into resistance before you look to sell. We could see the market challenging that green zone today. So, if you were to highlight this with a triangle pattern, it might be easier to recognize.
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