GBPUSD - From the play book....
2014-06-06
when price turns before reaching its next logical line (In this case , the down sloping Median Line) it's an indication of a larger counter move. A buy may be entered when price crosses the TL it was responding to on current drop. My prop. calc. puts TG @ 1.7056.
If price fails at the TL, I'll consider this thrust as a price mark-up to catch out new buyers.
Tells: 1. The step-off onto an old UTL. 2. New HH/HL series
when price turns before reaching its next logical line (In this case , the down sloping Median Line) it's an indication of a larger counter move. A buy may be entered when price crosses the TL it was responding to on current drop. My prop. calc. puts TG @ 1.7056.
If price fails at the TL, I'll consider this thrust as a price mark-up to catch out new buyers.
Tells: 1. The step-off onto an old UTL. 2. New HH/HL series
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