A break inside a trend
The fourth market, where a four hour break landed against two strongly aligned slow charts, and why naming it correctly still produced no trade.
The fourth market is the pound against the dollar, symbol GBPUSD.
What it showed
The weekly and the daily are both making higher highs and higher lows, and they have been for months.
Then the 4 hour closed below its last swing low. A break of structure (BOS), meaning a close past the last swing point, pointing down.
Two slow charts strongly up, and a break the other way on the chart below them.
What that break is
The pullback starting. Module 44 stated the law and module 47 showed it happening: a break against strongly aligned higher charts is the retracement arriving, not the turn.
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