This was the former post. Read it and learn how this did unfold.
And now I will wait for a retetst of the centerline. In my brain there is the Weekly chart...it's L-MLH is breached! This means, that price will test/retest it on the weekly bevor falling off the cliff if it really does. If this is the case, then the gas station has to pay us...
Here's the weekly:
Trade small and often, not bold and seldom, to enhance your chances to win!
P!
Comment
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Weekly resistance - the retest at the L-MLH! Me and others are long from the daily centerline - it's a tricky situation here.
Either trail below some bar, or wait what happens and go B/E.
1. Do you use log scale on your charts or linear?
2. What do you mean by the last line "Either trail below some bar, or wait what happens and go B/E?
As always I appreciate your work and continue to learn form you
Tr8dingN3rd
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1. linear
2. Meant that I decide on the go. Either trail my stop below a bar I like, or I go break even with my position.
Cheers mate.
Bwo
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those are some awesome lines ...
Tr8dingN3rd
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The last chart you see "Inside" Medianlines. I use them very rare, but they have their time & place.
R81
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It was a good healthy correction Forker. Yup this looks like it will rip higher squeezing some major short positions in the weeks to come. Green "komos" or clouds are forming on my ichimoku kinko hyo H4, so this is positive.
Why do I have a feeling that the API and DOE will announce an inventory draw soon!
Excellent chart and analysis.
Tr8dingN3rd
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Thank you.
I have no idea what's possibly going on behind the curtain.
If I observe the monthly, longterm chart, I can see a little bit what could possibly happen:
R81
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@Forker, It's kinda hard to know now! Let's see Friday trade, if we break the 49 support it would be bad.
R81
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@Forker, Hi Forker, It's not broken yet! Have a nice weekend, hope to see further analysis from your side on Monday.
1. Do you use log scale on your charts or linear?
2. What do you mean by the last line "Either trail below some bar, or wait what happens and go B/E?
As always I appreciate your work and continue to learn form you