1.32450 Has been used as strong support ( orange arrows ) and resistance ( purple arrows ) now we can see price is currently sitting bang on this level, do we think it will bounce or break? BREAK!!!
Because although this is strong support the last candle formed was a big bearish candle, and if we look on the monthly chart with the same level placed on it 1.32450 we can see that the current candle is also sitting at this price.... but using it as RESISTANCE!
Its like 1 of my all time favourite rappers EMINEM, if you look at the more recent music charts ( 4H) he is going down ( breaking support ) because quiet frankly his new stuff stinks, but if you were to open a wider timeframe music chart ( Monthly ) and look at his older stuff like THE SLIM SHADY LP then he is still the rap god and hanging around the top ( resistance )
Now I know we think this pairing will go down... and Eminem never will but its just a good example for you music fans out there ;p
We like to teach forex in ways that people will understand, this may be unorthodox but people will relate to it more if its something they like, and if they like it then they want to learn more ( because plain old candlesticks and charts can get boring ) So if your love is football we would teach you forex but based around football.
Anyway we think this pairing will go down, All entries, TP and SL are reserved for our clients, for ways to join our ever growing team then send us message.
Because although this is strong support the last candle formed was a big bearish candle, and if we look on the monthly chart with the same level placed on it 1.32450 we can see that the current candle is also sitting at this price.... but using it as RESISTANCE!
Its like 1 of my all time favourite rappers EMINEM, if you look at the more recent music charts ( 4H) he is going down ( breaking support ) because quiet frankly his new stuff stinks, but if you were to open a wider timeframe music chart ( Monthly ) and look at his older stuff like THE SLIM SHADY LP then he is still the rap god and hanging around the top ( resistance )
Now I know we think this pairing will go down... and Eminem never will but its just a good example for you music fans out there ;p
We like to teach forex in ways that people will understand, this may be unorthodox but people will relate to it more if its something they like, and if they like it then they want to learn more ( because plain old candlesticks and charts can get boring ) So if your love is football we would teach you forex but based around football.
Anyway we think this pairing will go down, All entries, TP and SL are reserved for our clients, for ways to join our ever growing team then send us message.