Weekly and monthly trend down, price consolidating under hourly MA and when breakout happened trended down almost 100 pips.
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First we start with the Weekly and Monthly Trend
Then we analyze the GBP and CAD vs all other major currencies. We measure the direction of all of those pairs with the statistical intensity of the trends and come up with a composite trend strength.
When all trends LINE UP this is what can happen.
Weekly and monthly trend down, price consolidating under hourly MA and when breakout happened trended down almost 100 pips.
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Great example of NR7 breakout over yesterdays high plus weekly trend up, price went right to our predicted high trading zone sell area.
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