A great new fork has now developed which we can use to gauge the market strength. The question now is how do we do that?
1. We look at price and its capability to reach the ML
2. If it reaches the ML, that will be a sign of a good market to go long so we start looking for longs on pullbacks
3. If it closes below the LML before it reaches the ML, that will be a sign of great weakness and thus we will start looking for shorts on pullback
I hope you find this as useful as I do
1. We look at price and its capability to reach the ML
2. If it reaches the ML, that will be a sign of a good market to go long so we start looking for longs on pullbacks
3. If it closes below the LML before it reaches the ML, that will be a sign of great weakness and thus we will start looking for shorts on pullback
I hope you find this as useful as I do