Monday 16 August 2010

Euro$...a new week a new direction?

here are two simple E-signal charts for €$ without reaction lines, Fib levels, daily pivots or other indicators. The E-Signal Median Line/pitchfork tool is notoriously inaccurate and is very difficult to anchor correctly on the various pivots especially in higher time frames and even the tiniest error causes the lines to be distorted however the two most obvious forks that are appropriate for this currency pair both show a confluence of the 4th lower warning line for the grey fork and the LMLP for the blue fork. In Ensign and Metatrader these two lines are bang on but just a fraction out here.

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