As per my post on Friday we have some downward price action although no one yet knows to what degree. In the meantime ( using my Schiff ML set in blue) price came back upto the centre line and retouched/failed to penetrate the first red reaction line and fell away sharply. I have added a new Mod Schiff in green which shows use right now on the LMLP but if you move point C to D then we are bang on the centre line.
$CHF below. Nearly touched the green UMLP and pierced the upper Bollinger band as it touched the top of the reaction line (red) and ran out of energy before drifting lower. Perhaps a retest of this reaction line will provide another indicator/pattern based trade entry point.
$CHF below. Nearly touched the green UMLP and pierced the upper Bollinger band as it touched the top of the reaction line (red) and ran out of energy before drifting lower. Perhaps a retest of this reaction line will provide another indicator/pattern based trade entry point.
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