Comment by Peter jcp on December 20, 2012 at 8:56pm

Hi Gaboss - yes that line is one of many that could be drawn as a type of Median based on the presnt and past movements.

I noticed you have basically covered just over one day - which is also an inside day with an higher high yesterday and a lower low. Normally this leads to flags or triangles or whatever other technical name it might be called. I like my own which is the "Bermuda Triangle" as when price enters into the area - its not clear when and where it will come out ;-))

What will happen next is like putting 10 top economist in a room together and asking for an answer on a countries economy - all 10 might disagree - and all 10 might be correct with some of the reply and also wrong with other parts.

Choose which way - ie 

1. We are currently still in an uptrend and therefore should go higher.?

2. We are seeing LH's all year on the monthly map and should go lower?

3. We have had a LH than yesterday and should have another on under say 3283 tomorrow?

4. We are still in a HL up trend so over 3188 still higher ?

5. It near Christmas and its a Friday - will it be a 45 pip range from your line?

I could go on and include OB and OS and even say - just wait for a move 10+ pip higher than high or lower than low of yesterday.

So for me - its still guessing - but as soon as Europe open's tomorrow and we hear the latest excuses ( ie news) then we might have some clues to work out next plan

Good Luck and will see you at sometime in our group chat 

Regards 

Peter

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