BATS:DIA   SPDR DOW JONES INDUSTRIAL AVERAGE ETF
496 7 3
Looking at the touches on the the colored circles you can see how you can catch the top and bottom of price precisely.

The yellow, green and red channels are equidistant or having the same price frequencies. This is defined by using a sliding parallels to capture price frequency when it protrudes out of the pitchfork and failed to reach the Upper Parallel(U-MLH) of the upsloping pitchfork .

Price will be attracted towards the median line show by the red arrow heading towards the ML as circled.

We can expect strong market correction next week as it heads towards the median line . A strong possible down thrust towards the Lower Paralle(L-MLH) is highly probable.

If you are holding any LONG positions, be alert for a major market correction or profit taking this week.

Get ready to short once it is near the ML with the right market action.

Price has cleared the ML so looks heading towards U-MLH now
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Nice chart...good catch!
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sounds awful..
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cryptoyoda jefftan
You're right! I forgot about tan lines. Doh!
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hahahaha...you can call it the sliding channels phenomena ; )....it is all about Action = Reaction...AB = CD....
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cryptoyoda jefftan
Or "Tan Channels" ;)
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So the distance between the upper purple line-ML = lower purple line-lower MLH? ie the channels are the same width as the Ml-MLH? If so this is a variation in the sliding parallel I've never seen before - the sliding channel I guess! :)
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