$WLD New 24-hour high: 0.5171, previous high: 0.5126.
After a new high, price action generally follows one of three patterns:
① Pulls back to the previous high, holds, then climbs another step: strongest
② Chops around the previous high: consolidates and waits for direction
③ Falls straight back below the previous high and fails to reclaim it: false breakout
For now, price is still above the previous high. Watch to see whether it follows ① or ②.
#WLD
Just a market observation. Please make your own trading decisions.
After a new high, price action generally follows one of three patterns:
① Pulls back to the previous high, holds, then climbs another step: strongest
② Chops around the previous high: consolidates and waits for direction
③ Falls straight back below the previous high and fails to reclaim it: false breakout
For now, price is still above the previous high. Watch to see whether it follows ① or ②.
#WLD
Just a market observation. Please make your own trading decisions.