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THREE DRIVES PATTERN
You may have come across this pattern before or this could be your first time; there is always a first time,...
I can only validate this pattern if that break out of the ascending channel is held back on that support in red
box and we see the price action move back inside the channel. Of course, that's a fakeout and then we'll
see a retest and a fast rise in price. Just note that there is a strong support around @76.00 psychological
level and it can attract buyers!
Also, if most ***JPY pairs will buy soon, I don't see any reasonable point to sell this pair any further against others.
DISCLAIMER: Please note that this is not an investment advice for anybody to run or undertake; It is for
educational purposes only and they are my personal views on these assets. If anything goes south, I am not liable.
Also, know that Forex is a high risk and reward business. So, do not trade with borrowed money or the one you can
not afford to lose.
THREE DRIVES PATTERN
You may have come across this pattern before or this could be your first time; there is always a first time,...
I can only validate this pattern if that break out of the ascending channel is held back on that support in red
box and we see the price action move back inside the channel. Of course, that's a fakeout and then we'll
see a retest and a fast rise in price. Just note that there is a strong support around @76.00 psychological
level and it can attract buyers!
Also, if most ***JPY pairs will buy soon, I don't see any reasonable point to sell this pair any further against others.
DISCLAIMER: Please note that this is not an investment advice for anybody to run or undertake; It is for
educational purposes only and they are my personal views on these assets. If anything goes south, I am not liable.
Also, know that Forex is a high risk and reward business. So, do not trade with borrowed money or the one you can
not afford to lose.