Well I went short at the bottom of the last (bearish) hour bar and that's where it should have been the whole time.Now waiting for the price to catch my previous shorts. First target it just bounced off 125.11 but I am looking for 123.50.
4-20-10 1430 hrs: Observations: Above 4 hr chart (larger chart) shows price is making lower lows and lower highs. Price has retraced from its lowest low and rejected the 50% Fibonacci level twice over the past 10 hrs. Price has formed two shooting star/pin bars. These formations show a strong rejection of the Fibonacci level as well as the gap from the previous week (shaded area) now acting as resistance. Simultaneously price on the hourly chart (inset) shows a clear double top formed as each rejection produced a strong price action signal. Currently the hourly direction is short and has confirmed the last pin bar.
Conclusions: Price is traveling in a current channel, but the immergence of lower lows and lower highs hints to a developing bearish trend. The firm rejection (if held) at the 50% level should put a downside risk to the current low, and may in fact break through.
2000 Replies. 
, but it's still not too late to apply it....cause market often offers us 1
