TRANSLATION PRACTICE
New Concepts in Support and ResistanceIn the spot Yen chart (figure 2) the reversal at a.) was violent, once the maximum bullish point was lost it was not seen again. This level later serves to top out a strong rally leaving high order isolated high (an isolated high that has several lower isolated highs in each side of it). Level b.) is nothing like so decisive. Look at the pullback from the high during the second period of the reversal. Level b.) acts as support and rebuffs a subsequent
downward thrust, but it is not really potent — accordingly it gives up without much of a fight a little later.
c.) is similarly weak, and on eventual attack it gives way easily. d.) and e.), however, constitute strong support (d.) and resistance (e.) when retested, as here the potential for getting un-
Vocabulary
ou 'potent — ìîùíûé
