When I see both a long term & short term P5 area I am looking for a reversal at least to the lower MLH & if P5 fails to reach the ML on the modified schiff I will be expecting a lower push past the P0,P4 Low.
PS: the market may attempt a final spike to the ML before reversing let's see what happens
Comments
Timing_is_key
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Hello all,
As can be seen the market failed at the ML and finally reached my predicted point 1.01500 target area and beyond, one of the great lessons from the great Allan Andrews states that in most cases when the market fails to reach the ML it will travel further in the opposite direction than it did when approaching the ML........Simple principals, powerful results!!
as always
Timing Is Key!
Timing_is_key
⋅
Hello all,
Well as I predicted the final spike towards the ML came in ( a little later than I expected ) even taking out all the stops around the P5 area before plunging into the lower MLH as shown by my red arrow. Now if prices break the lower MLH I would be looking at the Purple arrow around the 1.01500 target area.....lets see what happens:)
As can be seen the market failed at the ML and finally reached my predicted point 1.01500 target area and beyond, one of the great lessons from the great Allan Andrews states that in most cases when the market fails to reach the ML it will travel further in the opposite direction than it did when approaching the ML........Simple principals, powerful results!!
as always
Timing Is Key!