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1 message
Stephen Nderitu <> Wed, Mar 20, 2024 at 2
To: Stephen Nderitu <>
THE RALLY-BASE-RALLY PATTERN
The second continuation pattern that forms in an uptrend called, Rally-Base-Rally, this means a move up followed by a short accumulation phase followed
by a move up. See the example below:
As you can see in the USD JPY 1H chart above, the market moved up strongly, and paused for a short period of time before making another move up. When
price retraces to test this zone, it will find strong rejection because there are limit orders of other banks in this zone.
The rejection of price indicates that the zone is very powerful and it attracts other financial institutions to enter and buy the market. Look at the whole
picture below to understand how powerful this zone is.
1 message
Stephen Nderitu <> Wed, Mar 20, 2024 at 2
To: Stephen Nderitu <>
THE RALLY-BASE-RALLY PATTERN
The second continuation pattern that forms in an uptrend called, Rally-Base-Rally, this means a move up followed by a short accumulation phase followed
by a move up. See the example below:
As you can see in the USD JPY 1H chart above, the market moved up strongly, and paused for a short period of time before making another move up. When
price retraces to test this zone, it will find strong rejection because there are limit orders of other banks in this zone.
The rejection of price indicates that the zone is very powerful and it attracts other financial institutions to enter and buy the market. Look at the whole
picture below to understand how powerful this zone is.
