Wednesday, 3 October 2012

ES continued

There are more important forks(and reaction lines) missing from this chart that could be drawn but the high time frame forks that appear horizontal in this chart ( the green and black lines) are the most important as they have a higher probability of supporting/resisting price and creating a new pivot and/or reversal.

Here above are 2 more detailed MT4 charts showing the recent effect of a band of down sloping reaction lines.All ML's are in green. See yesterdays low found support on the green horizontal ML.( pink dots/dash are gaps in 5min chart..please ignore)

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