Price on the daily chart of the GBPJPY has broken out and has now begun winding up. Price is sitting on the old breakout resistance area which at this stage is holding as new support. Normally the longer price goes on winding up, the more powerful the eventual breakout is that occurs. Price …
USDCHF Bearish Engulfing Bar Sends Price Into Support | 17th Sep 2013
The USDCHF has moved lower after forming a bearish engulfing bar (BEEB) on the daily price action chart. This BEEB was covered live in this blog last week and you can view the original post HERE. After breaking the low of the BEEB price did not break straight down to the next support, but instead it …
Gold Breaks Key Support – Time to Get Short? | 13th Sep 13
Gold has smashed through a key support level on the daily chart and closed through, with the bears in the last session clearly in control. This support that price has just broken through, has been a key level previously and has acted as both a key support and resistance in the past. Traders can look …
