In the example below, price found support that seems to be broken, but if you look at the momentum indicator it tells you that price has not enough power to do so:
As well as a leading indicator on the breakout:
Friday, November 4, 2011
The power of momentum indicator
I just found out that momentum indicator may help you in the direction bias of a price and a chance of a price breakout on the support resistance.
In the example below, price found support that seems to be broken, but if you look at the momentum indicator it tells you that price has not enough power to do so:
As well as a leading indicator on the breakout:
In the example below, price found support that seems to be broken, but if you look at the momentum indicator it tells you that price has not enough power to do so:
As well as a leading indicator on the breakout:
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