According to the Rules of the Medianlines (Pitchforks), there is a high potential of a reaction from the Warning Lines (here WL1).
On strong Trends, price will trade through it and down the the ML (Medianline).
Be prepared for both scenarios.
Like always, some OPIUM for all xrp lovers.
I had this pitchfork drawn on my chart for months now, I thought I'm gonna share it with you all.
XRP is too easy to predict looking at this chart. Using LOG chart it's clear what's next.
Any spikes below lower warning line should be the bottom for this cycle. Very safe play would be loading on XRP after it breaks...
Price dropped down to test the upper median line and held as support, and reversed to go to Warning Line 2. Price should continue in this trajectory, and may come back down to warning line 1 to test support again.
If you follow the price step by step, then you hear it talking to you...
...nope, I'm not nuts §8-)
Start from the left side and read, while you follow the price and give yourself time for your one thinking.
First you can see price action, and how it unfolds.
Then, there is the fork, catching the frequency of price swings very good.
And in the end, we see that...
No clear trend in the daily, but we can identify the flow in the lower timeframes.
Here we can see how we can use different forks and the A/R channel to extract information.
Rules telling me, that this share wants to go north. And indeed, chances are high that price will reach the U-MLH, as our rule framework teaches.
A significant close below the centerline...
So finally MCD has decided to stay above the Warning-Line.
This could be the beginning of a nice relationship for a couple points into the sky ;-)
Let's see if we can participate on this entry.
Again, most indicators are leading to a correction; I'm going short.
With the recently tested 23.66 resistance, plus the blue downward-slopping warning line from the pitchfork, I'm guessing the price action in the next few days won't go above the 23.66 price point.
The hourly and daily lower indicators (macd, rsi, cci, slow stoch) are all showing a possible...
Price action is conforming to theories on pitchforks, Fibonacci arcs and retractment. All this plus lower indicators are all spelling out immediate action in the next few days to consolidate after that last jump.
