Multiple confirmation for breakout (GBPJPY) : We want to share a perfect example of breakouts. There are multiple confirmation of break out on a daily basis for GBPJPY : • Flag pattern breakout • Double bottom breakout • Head and shoulder breakout • EMA 13 cross over of 50 EMA and recent support of 200 EMA twice Disclaimer : This analysis is only for...
Rising Wedge Pattern : - Rising wedge is a bearish pattern found in a downtrend. A rising wedge is formed when the price consolidates between upward sloping support and resistance lines. Falling Wedge Pttern :- Falling wedge is a bullish pattern found uptrend. A falling wedge is formed when the price consolidates between downward sloping support and resistance lines.
Do you know Support and Resistance is not a Price, It a Area (Range) . Every time price came to this Area (Range) it respected the Area very well as you can see in the chart. Rule :- Whenever support is broken its become resistance. And when Resistance is broken its become support. Hit Like and follow for more future updates.