FX:GBPNZD   British Pound/New Zealand Dollar
112 4 0
I think that we will finally test the 50 % retracement again before it will go up.
The upper line of the pitchfork has not been reached. That means for me that a test of the middle tooth is prevailing.
ForceFollower
3 years ago
That doesn't sound like good news to me... But you may be right.
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motleifaul
3 years ago
No, it was my fault. Should have waited a while before deciding. Stopped out this time.
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ForceFollower
3 years ago
Don't worry. At least you've got something to note in your trading diary. As for me, I'm still long but I'm going to take profit just shy of 1.92. We may be wrong about our multipivot line at 1.9274. According to my study, there's more reason to exit at approx. 1.9195...
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ForceFollower
3 years ago
OK. I've just closed my long position. Your fork's MLH-1 may exert resistance on further price action. (MLH-1 that's my code name for the median line's pushing parallel, which is lower for the up fork and upper for the down fork). That's actually where we've stalled currently.
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