littleriver

DOW PIVOT HIGH SEARCH

INDEX:DOWI   DOW Industrials
171 1 3
With this chart, I am exploring the possibility of a new pivot high. Price was rejected on friday after crossing a clone(WL) of the Upper Median Line (UMLH) of pitchfork B. If price fails to close above high, we may expect a new pivot low to confirm the pivot high. Should price close higher than WL then we add another clone and the search continues.
After looking again , I decided to clone the area from fork A MLL to pivot point B. Next, I set this clone inside fork A's MLL.
Here is the chart. Price is reacting nicely to this line.
snapshot
+1 Reply
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