Hello Traders,
As of few minutes ago US President declare National Emergency to build the Wall.
Then I would like to declare new swing pattern call The Wall.
Red diagonal line marking The Wall formation. This is the swing where corrections are less then 25% - very strong continues price move. Low and High of the Wall Swing are very strong support and resistance.
We have significant important level which is 50% of that swing - this is balance Level between Bulls and Bears. As you can see price for long period of time remain above 50% of The Wall Swing.
This is very important information that momentum remains strong to the upper side - Bulls remain in Power!
The Wall Swing can be mark on price chart as well as on oscillator chart.
I hope you enjoy new pattern.
Cheers,
Jim
check in "Like Button"
As of few minutes ago US President declare National Emergency to build the Wall.
Then I would like to declare new swing pattern call The Wall.
Red diagonal line marking The Wall formation. This is the swing where corrections are less then 25% - very strong continues price move. Low and High of the Wall Swing are very strong support and resistance.
We have significant important level which is 50% of that swing - this is balance Level between Bulls and Bears. As you can see price for long period of time remain above 50% of The Wall Swing.
This is very important information that momentum remains strong to the upper side - Bulls remain in Power!
The Wall Swing can be mark on price chart as well as on oscillator chart.
I hope you enjoy new pattern.
Cheers,
Jim
check in "Like Button"
Comment:
there is actual situation on M15 chart. You can see another Wall...
In order to use this setup, go down to lower TF. Price changes will be fast and you can catch them on lower TF.
cheers,
Jim