GBPUSD - Good Symmetry on the 240 Minute Chart
Hello all,
I pulled up a full retracement on the previous range and noticed the market was respecting the big 50% and then pulled up nicely on the horizontal 25% ( Also 50% of last range down ) level as well. I then drew a nice downward fork to see if I can predict the next move to the Median Line and as you can see I have a test of the upper parallel and possible low risk entry.
You will also notice I have had nice turns on my predetermined vertical timing lines ( V1,V2 etc.) across the top from V1 to V4 so if V5 holds below the upper MLH and Hagopian line and reverses things look good for a short.
Always remember
Timing Is Key!
I pulled up a full retracement on the previous range and noticed the market was respecting the big 50% and then pulled up nicely on the horizontal 25% ( Also 50% of last range down ) level as well. I then drew a nice downward fork to see if I can predict the next move to the Median Line and as you can see I have a test of the upper parallel and possible low risk entry.
You will also notice I have had nice turns on my predetermined vertical timing lines ( V1,V2 etc.) across the top from V1 to V4 so if V5 holds below the upper MLH and Hagopian line and reverses things look good for a short.
Always remember
Timing Is Key!
