Timing is key
Short

(G/U 60) Two apposing forks, Two downward trending ML's

FX:GBPUSD   British Pound / U.S. Dollar
467 3 5
This Idea is based on two apposing forks , One beginning from the low & the other beginning from the next high. In a normal market you will see the ML of the one beginning with the low pointing UP! and the ML of the one beginning with the high pointing DOWN!. When they both point in the same direction it indicates a STRONG MOVE in that direction.....In this example with the pound it's pointing DOWN! We have a great entry at the ML with downside targets..... Let's see how far she goes!
so what now , do you think it to proceed up out of the channel or to go back to it ?
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Timing is key nawras.elghorani
Hello,

Has breached so many lines to the upside....may retest upper parallel of fork, before continuing, however will need to draw in new fork to get a better Idea.... I have predicted a big correction on G/U on my other charts which have upper target levels... Will try to update tomorrow.....4:50am in Sydney:) I heard my iphone go off:) you gotta luv training view:)

All the best

TIK
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Update,

Market came back to the original high and exceeded slightly ( Not enough to stop me out ). Moving sideways along ML, I adjusted my fork upper right handle to new high and watched it slowly drift down. Awesome exit on the backside of MLH. Proves how these lines get respected!

Sincerely,

TIK

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