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"
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Hi 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
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there is actual situation on M15 chart. You can see another Wall...