MRS Watanabe

New red fork and failure at LP

MTGOX:BTCUSD   Bitcoin / Dollar
299 2 1
Have added this red fork , for 2 reasons,
A) looking for a potential breakout of the red UP to signal a new attempt to regain Blue LP. this would have me looking to get long.
B) to see if the Red ML breaks and if the red LP becomes support, that would also coincides with a blue support line. If it holds I would be a buyer. If it breaks am out and looking for lower prices.

But
I am not encouraged by the failure to regain the blue fork's LP line and the non move over FOMC
Furthermore any move bellow 112 would open rather a large fall.

What does LP, ML and FOMC stand for??
Reply
MRS Watanabe Spekulatius
LP= Lower Parallel line
ML= Median Line
FOMC is when the FED decides on rates and QE
Reply
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