Using the indicator "Float"

Well here is an image from today, the chart is a 1hr chart with "Float" on it. if you look at the point where the black arrow points to, you'll notice that resistance line in blue and float drew up a new trend X-axis and Y-axis (just like a graph). When float does this, its an indication of the new trends direction.

Now 9 out of 10 times, the trend will continue to the thick red support line before a possible turn around. If it breaks that line it will continue downwards till it hits the next blue line acting as a support as well. Nice amount of pips huh? Now here's my tip, look at the daily chart to be able to tell the price action and candle movement to confirm the trend.