BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Break of this wedge formation will could see a move to the downside
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Typically though not always we need to see the most recent high broken above before we see the aggresive moves to the downside and this is because support and resistance traders typically buy these highs when they're broken above and because many of them trade with no stop loss, or they risk exorbitant amounts of their account the fear which they experience when it retraces against them causes many to close their positions in unison, which causes the stop losses that were placed by the support and resistance and traders who do actually use them to be triggered and before you know it we effectively have a run to the downside, aided by the big institutions who anticipate support and resistance traders doing this and then capitalise on these moves accordingly by also getting short. Feel free to backtest this theory on any currency pair, stock, indicy or commodity you like. ✌🏻
+1 Reply
whats the latest trend zone?
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