I've been following this fork for some time and I just can't believe how perfectly it describes current price action. Exactly the same overshoot as the undershoot, nice touches at the parallels, etc. At the moment we may be short but long-term it's in an up trend.
Comments
motleifaul
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Don't you think that there will be a larg correction after the overshoot at least as you saw it at the downside?
ForceFollower
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Right. Price might like to return to balance, ie. the median line - that would actually make the up trend much weaker. But first let it get to the thin trend line, we'll see how it responds to it.