as showing in the chart, the long trend touched the chart 3 times, and at the third one showed weakness. the trend line used to be support but now its resistant. in the book ( technical analysis explained, page 86-89 ) this situation explained that the longest distance ( price to trend line ) will be the same distance when reverse. so, if this happed, I will wait the price to be in 1.213 area to buy.
تعليق:
the price returned back above the trend line, so the scenario is cancelled
تعليق:
again, back to the theory and prepare to buy