DislikedGuys - it seems like there are too many buyers still . I have posted a Pound chart which shows strong buying pressure but a downward channel & ma.
Question - at what point does the corrective become impulsive ?
I would say when the KC changes direction AND a new High or Low is made.
Is this a reasonable comment ?? Or are there other factors I need to learn about.
cheers for replies
BrianIgnored
For me a Corrective move becomes Impulsive for different reasons. If it breaks a level of support or resistance or breaks through to the opposite side of the 10 EMA channel or as you say makes a new high or low.
After watching these moves on the charts for a while it becomes a lot easier to see.
Hope this helps a little.