Reply To: Technical Index Trading & Analysis

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#3272
wernluck
Participant

Daily Eur/Cad:
price now testing the lows.
Price zoomed through the median line of the PF..price is now advancing towards the lower parallel(80% chance of getting there eventually)
Here are Professor Andrews guidelines for Median Lines:
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1. Prices will reach the latest ML

2. Prices will either reverse on meeting the ML or gap through it

3. When prices pass through the ML, they will pull back to it

4. When prices reverse before reaching the ML, leaving a “space”, they will move more in the opposite direction than when prices were rising toward the ML.

5. Prices reverse at any ML or extension of a prior ML.

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So we are interested in 1 or 3 atm..

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