Forex GBP/USD 14th Dec 2007
Trading below December 50% levels and now below Weekly 50% level, but 3-day cycle is still a BUY.
90 pip spiral top, matching the 5-day 50% level and Weekly 50% level, and expectation that price has more of a chance to head down than up..
Below timeframe 50% level and expectation is to head down into channel lows.
Above 5-day 50% level, don't short.
Posted by
Frank Dilernia