PS: You will also notice we have Time Pressure coming in on the P5 Hour of 144 & 180. For those of you who look at Fibonacci and these numbers should be very familiar :)
Timing Is Key!
Appreciate your comments and Chart. Most of the forks are telling me the same thing....ie. a retracement at least to your P1 level and most likely to the intersection of your purple apex and Upper "blue" MLH.......From this point I will let the NEW forks tell me the next chapter of this move. I have includes a variation to the same chart I posted - I just changed the handle from my P0 to my P2.
The Mod Schiff P0 - P3/P4 was a pitchfork used by Andrews to isolate a P5 area, sometimes it hit the ML nicely and reverse or sometimes just miss ( price failure ) but don't expect it to hit all the time, If the ML is a 2P also it would be more of a case that you could use the ML as a good centreline to measure action/reaction points, not really to add predictability for a P5, that special pitchfork is all that was needed. What you can do is pull up a standard P2 - P3/P4 pitchfork also as price may terminate at P5 "between" both ML's....That would add to predictability. Hope that answers the question:)