Some say the more times price hits a zone like this the greater the probability of a breakthrough. That's generally true. The trouble is that no one knows how many hits are necessary.
I previously showed that CADNOK remained contained for 4.6 years.
To be clear, I am not saying CADJPY will take that long. I don't know how long it will take to push north. But this sort of structure zones on these macro-timeframes have a habit of retreating for a bit. What that means is that there is potential opportunity on much smaller time frames e.g. 15 to 30 min
Methinks the job of sound traders is to always look far higher and far lower. It's about 90% vigilance and 10% trading - or something like that.
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