Monday 7 March 2011

EurUsd + USDX...cont

See previous post
In the MT 5 & 15min chart price
(Euro) perhaps will weaken perhaps around 1.4030-1.4040 in the top RHS of the chart where the next d-sloping RL from the grid can be seen waiting.
This would roughly equate to 76.00 in the DX
PS: The yellow fork is not actually a true Gibbs as annotated on the chart but you can see P0 is in front of p1 and thus not Andrews BUT look how those RL's work in the last 1 min chart where the RL's have been coloured yellow so as to distinguish them from the grid and other RL/WL's....so there's another rule to throw away or to at least break when the results justify and price is perfectly expressed within the fork.

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