USDCHF

Take a look at the two simple $CHF 30min & 5 min charts below. Stripped of all indicators & sub-windows etc the charts show two forks of which one in particular is of interest to me because of the structure of P0P1P2. Even though price has passed out of the upper and lower MLP's it still influences price action and we can see that the warning lines have done a good job of containing price.The RL's are extrememly important and have been extended as rays past the Upper and lower MLP as they continue to influence price action into the future but the true relationship between RL's and price is best viewed in low TF's such as 5 min. Add to this a basic Fib retracement of bang on 61.8% and we have a possible new swing low/pivot after yesterdays dramatic rise and todays sharp $ fall ( especially vs the €)