Monday, April 4, 2011

Trend Analysis

At first glance, chart above suggest that there is possibility for trend reversal because the price breaks the TRENDLINE and there is FLIP Line. 

However after zoom out, based on trend definition, the H4 UP trend still intact because of formation of Rising Peaks & Rising Troughs. UP trend is series of Rising Troughs & Rising Peaks.

I will continue to assume UP trend until price breaks recent Rising Troughs.

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