The price bounced of the support level and headed toward the
North . What we want to know now is whether the price will continue or pull
back. We expected the price to return in the Forex Mechanic Workshop, but it
seem we are in for long movement in the direction of the North. A hammer was
formed in 1HR Time Frame so the price may not return until we see a price
action or resistance suggesting otherwise.
It looks as if the price has met resistance on the first trendline
So we wait for the price to break that level go back so we need to wait to see
what is going to happen. If it breaks that level with a full body candle, we
will wait for pull back before we enter. The price might not return until it
hits the next level of resistance which is
1.27505. That is about 71 pips. So we are wating.
See At The Top
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