Tuesday 11 August 2015

Last Kiss Formation

Have you trade break out before?
If your answer is "YES", then this price formation will increase your probability to success trading breakout.

What is LAST KISS?
Single word to describe last kiss formation is RETOUCH
Touching a price level, it can be support or resistance level, once again for the last time before continuing the break out.
Last kiss formation appear when a price breakout a price level, than touch it again before continuing the breakout direction.

Here an example:


This is USDJPY weekly chart for August 2015
USDJPY in weekly chart facing 121.57 resistance level. The price touch it two times before breakout happening in next touch.
After breakout, USDJPY move down to retest the 121.57 line (now it become a support). When the market rejected to move down, and bounce at this level, the last kiss formation is complete.

Enjoy your trade

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