This Chart shows about a month view on a 4hr candle time frame.
When it broke out all that resistance should have become support but you see it fell right back below and then came back up to re-test that resistance zone and got rejected down. It then broke through the Support zone and is now testing what should be resistance.
"Support and resistance Theory"
- Once resistance is broken it tends to act as support.
- Once support is broken it tends to act as resistance.
When it broke out all that resistance should have become support but you see it fell right back below and then came back up to re-test that resistance zone and got rejected down. It then broke through the Support zone and is now testing what should be resistance.
"Support and resistance Theory"
- Once resistance is broken it tends to act as support.
- Once support is broken it tends to act as resistance.