Within the minor pitchfork, we see that price has tried to reach the mini median line but it retraced on tested the previous high of 18.01.2013. From then, it tested on the upsloping major median line (ML).
We expect price will dance along the upsloping ML with target indicated by the purple trendline a.k.a. sliding parallel.
Order type for tighter stop will be using BUY LIMIT ORDER as indicated.
For the conservative trader, use price action for entry.
Comments
jefftan
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Got stopped out! When price closed below the black median line, it is bearish until the upsloping blue line which is the lower parallel of the blue pitchfork.