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Saturday, May 29, 2010 11:57:11 AM
ATTN BOARD...Quad Tunnel Charting Part 1A
This chart is a 4 hour GBP/USD and goes with part 1 and it is an example of tunnel convergence followed by the Tunnel Twist...the yellow thumbs down on the chart shows the twist...EMA(196) has now confirmed bearish reversal by moving from tunnel bottom to tunnel top.After a tunnel twist I no longer look for the Quad Tunnel to become resistance but instead I look for EMA(62) to be major resistance.This phenomina can be seen a lot on 1 min and 5 min charts.After the twist I usually see numerous bounce attempts that rise to the 62 then fall again...happens over and over til breakout occurs...after the breakout it will normally make it back to the Quad Tunnel but fail on first try..if it fails second attempt it should drop back to the 62 and bounce again.
Note:Occasionaly you might find that EMA(30) will stall the price as it tries to return to the tunnel...especially if there is a sizeable gap between the 62 and tunnel itself.
This chart is a 4 hour GBP/USD and goes with part 1 and it is an example of tunnel convergence followed by the Tunnel Twist...the yellow thumbs down on the chart shows the twist...EMA(196) has now confirmed bearish reversal by moving from tunnel bottom to tunnel top.After a tunnel twist I no longer look for the Quad Tunnel to become resistance but instead I look for EMA(62) to be major resistance.This phenomina can be seen a lot on 1 min and 5 min charts.After the twist I usually see numerous bounce attempts that rise to the 62 then fall again...happens over and over til breakout occurs...after the breakout it will normally make it back to the Quad Tunnel but fail on first try..if it fails second attempt it should drop back to the 62 and bounce again.
Note:Occasionaly you might find that EMA(30) will stall the price as it tries to return to the tunnel...especially if there is a sizeable gap between the 62 and tunnel itself.
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