EURJPY is a clear example of when it is a good idea to check back for old PA levels.
This is because the price has rallied and becomes more extreme.
The more extreme price gets the older the PA levels that are relevant become because they have not been hit for a while. As the EUR gains VS the JPY this becomes the case.
You can see to the LEFT handside of the chart denoted PA levels (where traders have created rejection)
That forms the Bias for new moves.
Any Qs ask.
This is because the price has rallied and becomes more extreme.
The more extreme price gets the older the PA levels that are relevant become because they have not been hit for a while. As the EUR gains VS the JPY this becomes the case.
You can see to the LEFT handside of the chart denoted PA levels (where traders have created rejection)
That forms the Bias for new moves.
Any Qs ask.
Free Pro Multi Asset Trading Guide:
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Free Pro Multi Asset Trading Guide:
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.