Friday 15 October 2010

Euro$ CL failure at 1st RL

Simple, uncomplicated and reliable. If i get confused or lost in the low time frames and get too much information from indicators etc i move up to an uncluttered chart like this and go back to basics....and Hey Presto. It make sense again.
FYI,Under the pivot p2 you can see a thin light grey line. This P2 is a perfect retouch on the UMLP that is drawn from one of the most obvious daily forks you can draw in this currency pair (P0 1.47?? Dec 18 2008, P1 is 1.25?? in March 09, &P2 is 1.50?? in Nov09)

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