RazorX

By RazorX on Thu, Feb 16, 2012 at 19:16 Like - 0 People

Well would you look at that -NZDUSD bounced off the prior weeks resistance, went straight to the prior weeks support, bounced and is sitting happily in the middle... and I was busy so missed all the action. Such is life. A great example of S/R working.

1 comment

By Brad On Thursday February 16th, 2012 at 11:56PM Like - 0 People

That is one weird looking pattern on the H4 chart. Made me think of harmonic patterns, which I don't really use to trade. But, it looks like sort of the M sort of thing, then a big takeoff this morning. It isn't classicly any of the harmonic patterns, but I doubt you would ever have a perfect one very often. Interesting anyway.