Monday, 27 May 2013

E mini S & P + USDX... Multiple historical pitchforks and reaction lines show the way ahead ( back up higher for a second attempt at 1670+)

 Holiday in US/UK today but we test 1653 but need to make a higher high after last nights/ Asia's opening 1655.25 failed to take out the previous high convincingly and in effect gave us a double top from which we retraced 50% of Friday's/Sundays leg up in early European trading.... now in v light volume we are trying again.

  another view in MT4. Note the fact that the LMLP has held twice and price seems unattracted (so far) to the fork that lies beneath ( where some buy orders rest around 1620 on the CL)

Below is the USDX....there are several forks i am watching and these studies are for the most part simplified with reaction lines only from the weekly and monthly time frames drawn in brick red.

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