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pipsaholic

Momentum/Elephant Bars

By pipsaholic, in The Candlestick Corner

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pipsaholic    10

pipsaholic
Posted

Hi,

 

When these types of bars come up on any timeframe are they stronger the more previous support or resistance points they break?

 

E.G

 

This CAD/JPY on the monthly has broken 6 previous months high lows likely to close end of month at this level does this make this bull very strong as its 6 months its broken resistance?

 

Also, it has a GAP underneath it does that act as extra support/supply? Is price action likley to revist the gap?

 

Thanks.

cadjpy.thumb.gif.c22dea24eb942f153f6e2631b846d4ae.gif

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