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11-16-2009, 06:22 AM
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Can strong resistance/support creates new trend?
From what I have learned so far I understand that for the market to form a new trend, it will take alot of time and effort to create it. eg major news releases. However, just curious, when prices approach a strong resistance in a 1hr and more chart, it will try to break it, when I can't, it will reverse for a while before trying again. If it fails again, prices will then tend to reverse all the way down. Can failed S&R breaks forms news trends on its own, with absent of any major news? Or the context of time frame must be considered too?
Last edited by Caesar95; 11-16-2009 at 06:33 AM. 
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11-16-2009, 07:06 AM
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Well my opinion of the forex markets is this. they are basically constantly in a range. The ranges vary by timeframe and length but ultimatily they are in a range. So to answer your question I say yes a very strong s/r zone could reple price in the oposite direction for some time, perhaps to the next lowest/highest s/r level. It really depends on how you define a "trend"
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