Price did not act as expected.
But we stil need to learn from this and
use this information for the future.
At least we see, that A/R works very nice...
...the centerline & WL2 confluence is a real pretty one!
Actually price is kinda ranging - so we probably leave
this one allone for a while, at least in this timeframe.
...observe and...
On the dayli we see price coiling.
This brings the potential for a nice SQ to the upside.
My Goal is still the upper A/R, or if it struggles at the centerline, i take my profit there, or partial at least.
P!
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And here we have the test/retest at the Lower Medianline Parallel...
...why not take the ride down to the lower SZ (green), or eve to the U-MLH.
P!
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The Warning-Line is broken to the upside and the only thing what could
hold price up is the blue centerline.
Short term i expect a pullback to the WL1 and from there the attack of
the blue downsloping centerline.
Selliing Puts <--- ME §8-)
P!
The break of the mini- Forks L-MLH is allready a indication of a turn.
Breaking the L-MLH is never a good bet for a continuation of the trend...
P!
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This is like textbook behaviour.
1. break of the centerline (upsloping)
2. test/retest at the centerline
3. down to the next A/R Line, the downsloping centerline.
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Get it here for free, packed in a very basic A/R & Fork course: mytradingcoach.teachable.com
Chances to reach the A/R are very high.
Try to stick to the plan, but not messing with profits.
P!
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Her's a complete ohter picture on the 240.
Break to the downside is absolutely possible.
IMO, here is a trend change going on.
The red FLUSH looks like a final shakeout.
More information on the chart...and try this out - i'm sure you will like it (it's free): mytradingcoach.teachable.com
The breakthrough of the upsloping centerline (grey), and the L-MLH of the red pullback-Fork indicates a potential turn.
Main TGT would be back to grey centerline.
Second opinion is the break of the L-MLH, down to the support zone (green) and up from there to new highs.
P!
Like the Forks?
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Even i have my long position setup on the Dayli, i would like to show you this setup.
Price price produces a slanted coil (small one), washes out the stops above and below and finally resumes the main trend. Here we even have a nice support zone (green), where it is super nice to enter.
I allways put my stop below the stop running spike, or on bigger scales even...
Was this just a washout and continue higher?
Or will it get rejected at the orange seller zone and down to the A/R?
P!
...more on A/R: mytradingcoach.teachable.com
Price comes down from the upper extreme.
A rest in the BZ (BuyZone) is very possible.
I allways wait for entry, let the market proof that he stick.
Then I want to see intension to the upside, wait for a bounce to enter, IF i have a good stop.
P!
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One of the rules (the Hagopian rule) of Action/Reaction is as follow:
" If price miss to go to the nextd line, there is a high probability that the market is going back from where it came, or farther in this direction".
Here we have the WL1, the Warning Line, which marks a area where price is running out of steam, and will pullback.
Check
Next we have the...
