Irrespective of near term moves, this 50 pip Range Bar study is keeping me focused on the upside to come. Irradiating time from the proposition makes for a different interpretation of the FLDs and the quirky way I already use the VTLs, but I am sure Hurst would not have minded at all. One of the biggest issues with Cyclic Phasing Analysis is that the dominant cycle tends to shift from one discreet cycle to another as the market sees fit. So by using an MA of the Range Bar study as the underlying trend determinant, we get a fit based solely on price action and momentum as far as I can tell. As I wrote yesterday on 'who is zooming who', a break up of the red dashed VTL would help provide this study with some clarity on that bullish (still not crossed down!) MMA and the momentum nesting in the sub chart. Price is mooching around the weekly pivot and the monthly S1. A break above 1.3450 should open up the monthly pivot at 1.36285 which sits close to the next Harmonic Octave in this range at 1.35938.
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