by ivanlim » Tue Jun 22, 2010 9:49 pm
Sorry i have to add in something to the question. The pair was bullish for the past few months,but in the last month,it retraced. Now,it has hit the 38.2 fib level on my daily chart,and the recent 1-2 bars are bullish. This pair is above the 200 period MVA on my daily chart,but on the 4 hr chart it is below the 200 period MVA. So how do i know if this this down trend movement for the past month a start of a new downtrend (reversal of the bullish) or just another retracement which will soon continue its path on the original uptrend?