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OK Thank you very much. It really helps to understand.

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Gold77

980 Posts.

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30/01/15

19:41

Post #: 14671389
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Originally posted by Jako64 ↑

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.

View attachment 41873

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

cheers

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OK Thank you very much. It really helps to understand.

XJO Value at posting: 5,588.3
2 Upvote

0 Great analysis

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