Asia Map on Despite the overall thinness of the correction in time, both bar 9 and combi 1 0 had managed to put in a higher low, and bar 8 a false low with 7. Furthermore, if we zoom out a little, we can see that the 7 – 1 1 action was actually part of a much bigger pattern, the bull-flag 5- 1 1 hanging from the pole 3-5. Although the current development favored a bull break more than a bear break, the offer above combi 10 can be qualified as premature still. Considering the subdued action of the moment, and with the bigger flag line yet to be broken (dotted line), it just wasn’t very likely that prices would shoot off like a rocket here. So why not grant the market a little extra time to set up the break in a stronger fashion. In all fairness, the span of combi 1 1 , too, was terribly nondescript, 139 Understanding Price Action but with the dotted line now cleared, at least the. issue of immediate resistance was solved. Asia Map 2016.
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