Two charts showing US$ vs Canada pair. The red reaction line( from the larger aqua/blue ML set) sits bang under the LMLP of the up sloping green ML set/fork. You can already see the effect on price being supported up the' ladder 'and a long position taken on the LMLP -should the chance arise- and also confirmed by indicators for a high prob trade entry would be my idea. Objective-green or aqua/blue centre lines. Care should be taken of lower TF reaction lines and stops bang under the green LMLP/reaction line
Thursday, 22 April 2010
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