A 240min and 60 min EurUsd chart with various ML/pitchforks and in crimson red the reaction lines. In the 60 min chart you can see how price has been heavily influenced by them. We now approach various LMLP's and CL's. The yellow dotted ML set is dubious and as yet 'P0' is not yet confirmed as a more suitable pivot lies behind it but it's 'fit' with price doesn't work quite as well. Too early as yet to be looking to take a long position but we could be near.
Monday, 19 April 2010
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