If the EURO can stay above the current channel and support then look for price to reach point "A". IF breaks bottom of channel and support, look for price to reach point "B".
Comments
trevor1365
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when do you decide to redo your reference channel?
nmike
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Hello.Sorry I missed this question earlier.. This is kind hard to explain.Basically the reference channel does not change.But at some point(usually at cycle top or cycle bottom) you have to clear all channels and then start over again with a new reference channel.It takes some experience cloning channels,but they work very well.
nmike
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>>>>>support target reached....
nmike
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>>>>CLONE CHANNEL HIT...add another CLONE below RED channel....