As expected price is being channeled into the 'cone' of the two reaction lines.....ahead of a breakout. I guess this is what in market pattern geometry is called a triangle/wedge. Of course there are at least two other up sloping reaction lines that could catch price if it fell through the 1.2500 level but then this would still indicate a breakout on the downside and a retracement of as yet an unknown percentage.
Friday, 2 July 2010
€$ Reaction line channels price ahead of breakout...continued
As expected price is being channeled into the 'cone' of the two reaction lines.....ahead of a breakout. I guess this is what in market pattern geometry is called a triangle/wedge. Of course there are at least two other up sloping reaction lines that could catch price if it fell through the 1.2500 level but then this would still indicate a breakout on the downside and a retracement of as yet an unknown percentage.
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