This idea is an illustration of an experimental approach that I have been developing with the use of Median Line Analysis. To my knowledge it is a unique approach using this technique. The rationale behind this technical analysis is shown on the chart. If you have any questions regarding my setup I'd be glad to help. Wishing you good luck
if this idea is valid then something has to happen (draghi's speach?) in order to get a strong reversal signal
NQunlocked
⋅
can't wait to see if that bounce takes place!! exciting times...my other monthly idea based on simple support/resistance trend lines suggests a much further drop... time will tell . I might keep my short position open unless a clear reversal signal presents itself tradingview.com/v/YmDbozRg/
kapital
⋅
How did you determine the C pivot? To put it another way, how did you determine the slope and length of the baseline for the pitchforks?
NQunlocked
⋅
These "validation touches" you see..once you chose pivots A and B they are only influenced by C..I draw a downward slope that "describes" the downwards slope, then use fibonacci extensions and retracements to have an idea about where the price might go with. From there I choose a point on on the downward slope at a fib retracement/ratioconfluence and watch very carefully for these validation touches to be correct. I am using multiple pitchforks to increase my chances of being right about that C point. Hope that makes sense. cheers.