Price often creates a form of a Sine-Wave.
When the drop is finished, the come back from the hole and just break the center of the Sine-Wave.
After this, when stops are taken out and everybody is long again, the do the rinse on the opposite side.
In this case of the ES I see a potential short, now that they have stopped out the weak hands above the Sine-Wave center.
There's a high probability that price is trading from one extreme back to balance over 80% of time.
So, the first target would be a high probability target, which is the Centerline. Next target would be the L-MLH (Lower-Medianline-Parallel).
Never look at my charts as "Forecasting".
They are projections with high probability, nothing more and nothing less.
We at the ForkTrading Group are a happy crowd.
We trade systematically, lean on the rules and on our proven Strategies. If you like our style, give it a try and subscribe for the Free Group.
P!
When the drop is finished, the come back from the hole and just break the center of the Sine-Wave.
After this, when stops are taken out and everybody is long again, the do the rinse on the opposite side.
In this case of the ES I see a potential short, now that they have stopped out the weak hands above the Sine-Wave center.
There's a high probability that price is trading from one extreme back to balance over 80% of time.
So, the first target would be a high probability target, which is the Centerline. Next target would be the L-MLH (Lower-Medianline-Parallel).
Never look at my charts as "Forecasting".
They are projections with high probability, nothing more and nothing less.
We at the ForkTrading Group are a happy crowd.
We trade systematically, lean on the rules and on our proven Strategies. If you like our style, give it a try and subscribe for the Free Group.
P!