eur/usd 1-30-2009 1hr (2nd) post) 09:25 gmt

This is a continuation of the prior post. You should read the prior post before you read this.

Now You're looking at the 1hr chart. We have the 4hr support and resistance levels. See how we had a 1hr breakdown below support. However, the bar had lower volume and our mfi index shows that the bar was not supported by pros or retailers so, this was a drift bar with no power.

Therefore, for you 1hr chartists, this is not a good 1hr breakdown to short. You want to see a weak down bar supported with volume to signal a short here based on the 1hr.

The yellow line is 1hr resistance. This is how you zoom in from the 4hr to the 1hr and further define your support/resistance levels to a razors edge. so, even if I'm trading off the 4hr direction I want to enter off the 1hr or less entry signal.

Markets are fractal and everything that applies to one time frame applies to all.

Got some 1 on 1 sessions to do so...

Cheers for now, Jerry