Not for Non-Profit - Friday, page-6

I just look at where price has reacted previously,
and in particular where price reacts both from above and below, which forms an Axis Line (or Zone).

here's the same chart again, but this time with a (very rough) wave drawn over it, then arrowed where price has reacted previously.

When you see it like that, it is obviously an important level (for whatever reason) on the chart at this particular time.



as for 'why' this happens, I'll leave for another time............

cheers