Entry example predicting reversal support EURJPY 1-hour chart
Hello!
I’m Satori, researching FX.
Today I will deliver “Entry example predicting resistance/support reversal EURJPY 1-hour chart”.
The figure below is an entry example predicting resistance/support reversal on EURJPY 1-hour chart.
http://livedoor.blogimg.jp/fxmt4indicator/imgs/3/1/3122f171.gif
When the previous high/low is broken, a dotted line is drawn; in a buying case, if it rises above that dotted line with a pullback and surpasses the previous high, it overwrites with a dashed line indicating confirmation of resistance/support reversal.
Also, if you draw horizontal lines on the major highs and lows in advance, you can predict that after breaking those lines, a pullback or a retracement might reverse the resistance/support.
Of course, there are times when it fails.
If you enter after breaking the high resistance line or the low support line in an N, inverted-N pattern, or after a pullback before breaking the previous high or before a return after a retrace, the odds of taking profit are higher.
If you only aim for simple breakouts, I think the win rate will be low.
The indicators used today are as follows.
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