DislikedIt seemed to me that when the support line was broken, it was supposed to become the resistance line. And the price going back to touch it was supposed to be a confirmation of that.
But i can't find a post of Jacko stating thatIgnored
Support & resistance are area's where there is going to be a fight between buyers & sellers. Same trade off at 50% retracement levels and round numbers.
Perhaps a more in depth understanding of the fundamentals that are driving market sentiment might help.
Daily check list might look like this.
1. Where is the market today in relation to yesterday.
2. Where is the market today in relation to the 1st day of the week/month.
3. Is the market correlation with equities,gold,crude & treasuries holding.
4. What is the condition of the health of the 2 countries making up the pair.
5. Where are stops likely to be positioned. Identify the probable loser.
6. Any large options barriers in place that might interfere with tech picture.
There is a lot of spade work to do.
Take care.
BabeFX.
It is better to be out of the market wishing you were in, than in the market wishing you were out !