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Quad Tunnel Charting Part 2A

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simplegreen   Sunday, 05/30/10 09:53:55 AM
Re: None
Post # of 140143 
Quad Tunnel Charting Part 2A

This second example chart on EMA(400) study is a 5 minute GBP/USD and you will see the 400 is not showing on the chart!...Notice tho that at 18:50 the same time the one minute EMA(400) reversed is now seen as the EMA(62) instead on the next higher time frame..so we see from that the 62 is actually in play...IOW one min EMA(400) and 5 min EMA(62) are one and the same.
This reversal was gorgeous and a sweet short..was not only confirmed by the 62 on this 5 min chart but was confirmed by a shooting star candle at this intrady trend top.
Notice also that the tunnel is overhead and has a nice downward tilt and tho its not visible on chart we know that EMA(196) is on the tunnel top(bearish).Another thing to be seen is that under this basic condition the EMA(62) is firmly in play on the 5 minute and til breakout occurs this pair is a short at the EMA(62) line!..if this action goes on long enough the EMA(400) will again come into play at a bottom and on at this point a yet unknown dominant time frame.



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