Idea is based on a combination of Median Line Analysis, Elliot wave theory and Fibonacci ratio's. The rationale behind this technical analysis is shown on the chart along with specific targets. If you are about to copy this setup please do so at your own risk. Good luck
@CapnOscar, that is because this one is meant for those who would make an effort and try and understand what I am doing. It looks messy I know. It is actually the most validated one of my ideas. It contains not 1 or 2 but 6 forks. If you zoom in and watch closely how these act as support/resistance lines you would see what I mean. Time will tell how accurate this one is going to be. Thank you for the input and the reference to the momo strategy. Considering that I am a long term trader myself I am afraid it is of no use to me but I am sure there are many traders who would benefit from it. Cheers
CapnOscar
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Well I respect and appreciate the work done above. I am sure you spend time and effort. Cheers