Using the reaction line ( and confuence from reaction lines eminating form the RL grid ( dashed red) plus the important horizontal thicker line we have a visual reference for prices support or in this case resistance having made lower lows and lower highs in this trend down form 1.3490. Using the Ensign template we can combine the visual MT template with our reaction lines (and some ML's- only one visible in this chart) and take the entry based on the '2 x' and 'B-line' stoch setups. In this case a classic 'slingshot'. Entry on the top of the band with a tight stop and exit on the reaction line at 1.3440.. then wait for bounce.... and possible next short.
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