Will the 3 Year Upper Descending Line Become a Strong resistance Channel Once Again?
  • Vote Up0Vote Down venynxvenynx
    Posts: 4,639Member
    Market participants are at a focal point, at a three year upper
    descending line which has admirably acted as a resistance line channel
    and looking at the weekly close of last week trading session candle, the
    session closed as a red doji candle or to some others, they may say a
    red spinning top, but it may not matter as the charts tell it more
    clearly for the viewer, so meaning there is a indecision level holding
    up at that area and noticing that too, there was a bullish momentum move
    just to the close the last week trading session for the month of August
    but is the push up short-lived?To get more news about WikiFX, you can visit wikifx official website.



      Also, buyers have been hold steady for three straight months at price
    handle 0.67 acting as minor resistance line and inversely sellers have
    been hold steady for three straight months at price level 0.65 and the
    50 MA acting as support confluence band.



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    Jasper Njuguna is a self-taught discretionary financial markets trader.
    With cumulative 5 years experience trading the markets and out of which,
    one and a half years of that as a prop trader, trading large and
    mid-cap American equities at one of the DAY TRADE THE WORLD offices.



      Prior to switching career interest to trading, I have 9 years of
    experience in senior management roles driving small to large business
    development and B2B relations in creating and implementing; learning
    & development solutions, programs, organizational strategies &
    frameworks, and blended learning approaches for companies and
    institutions in Africa

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