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?
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”
Haha Thanks Johnny, should have thought of it. Thanks!