Recently I saw some interesting patterns in terms of whether something will reverse or continue.
As you can see, even though the price level has been rejected for many times, I couldn’t find a safe entry point because there was also a minor support level on the red line, showing also that at the same time, the price refuses to go down under a certain level.
This is why I decided to not enter this pair and see what happened the next day…
Therefore, it shows that even though that the pair looked very much that it’ll go down, it still continues the uptrend the next day, because at the same time, the price also refused to go lower than a certain level.
I believe that it is important to indicate this, since it’s a tiny detail that change the whole setting.