GC missed the lower (pink) A/R line = Hagopian = Pric is going back (or furthert) to the point from where it came (Centerline). And so price did what the rules tell (LOL).
With zooming the CL (black), price has reached the Trend Barrier, from where it could possibly stuck, or even turn. I expect the turn, because if a CL is zoomed, price usually pulls back to it, bevor it continues it's way (up in this case).
Interesting point when it missed the AR is like the price failure rule re: Andrews. Will put that in my tool box:) a pullback to the fork ML/ CL will be an excellent long if the market Pulls Back. Would you say first target is the Trend Barrier ie CL? then if that clears the upper parallel? Just want to get your thoughts. Hats off mr forker great analysis....I can tell you love this stuff:)
Tr8dingN3rd
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Hi TIK & andberg
"Would you say first target is the Trend Barrier ie CL?"
> Yes. Throw a fork from
A-Point: low 2015-03-17 (1140)
B-Point: high 2015-05-18 (1232)
C-Point: low 2015-07-24 (1072)
This is, as you may allready know, the "revese fork". And the CL of this RF is basically the same as my trend barrier.
I allways tell my students, that they should never ever ever hang theyr decisions about a trade on a line.
A line is a line is a line...nothing more.
The importance of the line is, the difference from what information we "should" get, and what it will give. The "should" get part only make sense, if it is proven...statistically. Because the stats give you the potential expectancy. And this tiny piece of information is the "nugget".
So - if price is zooming through the barrier like it does now, the chance of reverse is still intact. Price cares a ...you know hat...about my lines. So lets just take the information, absorb it, file it and proove it later with couple 100 other occurences.