Attached is the 60 minute chart from yesterday showing the pullback and further drop to the 2.0 fib level of the orginal pattern. The chart shows the (so far) completed butterfly and how divergence is running price back into the depths of the 240 channel...and wild time huh, up and down.... we have to just keep an eye on those momentum shifts...
Peter
Peter McIntyre <mcpetetrader@yahoo.com> wrote:
Peter McIntyre <mcpetetrader@
Another rate decison and action. The pair has dropped out of a 240 channel -franlky left me flat in a cash position for a couple of days. I should have gone fishing or something else fun.The 240 has to take resposibility for the divergence we see now. Ecpecting an even lower price to be hit. The verticle drop off the 60 is akin to great momentum and should also be a sign of great momentum.I have included a 15 minute (called the pattern 3 min...) and a couple of developing 60 minute charts....as you can see the development was quick and then reactionary You guys have to low that before I set the first entry order i have a pttern drawn and a termination point in mind unless...well lets say that would be determined aon strength and weakness of my signals.Having a cluster to manage I will let you guys ponder on the coming drop...Peter
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