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Sunday, May 30, 2010 10:21:11 AM
Quad Tunnel Charting Part 2B
In this next chart we are finding the first dominant time frame on GBP/USD for last friday's trading..the 15 minute.We believe it to be a dominant time frame because EMA(400) is now seen as in play and supporting after a considerable drop in price action.In the next chart we will go to a 1 hour and you will see it also is a dominant time frame with EMA(400) in play as resistance.The price action is boxed between the two EMA(400)s..the 15 min support and the 1 hour resistance.First look at the 15 minute.
In this next chart we are finding the first dominant time frame on GBP/USD for last friday's trading..the 15 minute.We believe it to be a dominant time frame because EMA(400) is now seen as in play and supporting after a considerable drop in price action.In the next chart we will go to a 1 hour and you will see it also is a dominant time frame with EMA(400) in play as resistance.The price action is boxed between the two EMA(400)s..the 15 min support and the 1 hour resistance.First look at the 15 minute.
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