WDL - Pressure cooker exploded, now at WL1If 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 price has arrived at the WL1 - First Warning Line.
So, WL1 means, price is stretched and is trying to "relax" again.
This would lead to long move.
What makes me even more certain is, that price created a kind of a stabilisation zone.
Let's see how this unfolds.
P!
C-FORK
GC - Gold pulling back to U-MLH support.The breakout of the U-MLH (yellow) set the tone for Gold.
Now, with this scary pullback, many long positioned traders get stopped out and positions change hands
I will stalk a entry long as soon I see some stabilisation at the U-MLH.
P!
CL - Crude is outside the fork and could hit $43 soon.The current bar could be the re-test of the L-MLH.
This would indicate a further drop.
Taking the prior angle of price flow to find the potential target, the number would be around $43.
P!
MRO - Into the buyers zone.At the mentoring group we called it a "Mountain".
To me, this is just a buyers zone.
But it doesn't matter how you call it.
It matters, how you use it, and what you are aware of, IF you use it.
Because this zone could get washed in a blink...
That's why it is always a good idea to first observe, and then let the market yell at you, if there is a potential entry showing up.
My guess (...umpf...guesswork...very bad!) is, that it will trade into this zone, come back and play along with the rules of the forks.
This means, it will jump above the centerline, make a retest and then picking up the new direction to the north.
Let's see...let's be patient...let's observe.
P!
IYT - ObserveMoves very nice in the fork with a little shift to the upside (see arrows).
Path of price is up - Looking to buy lower...observe it.
P!
Bitcoin and moon phases - just in case that was the top!Check the fibs just in case that was the top!
Watch the daily rsi
we are well above the 100 dma and many alts are dipping below theirs. Alt wealth could still flow into btc
RUT - Russel in test modeAfter missing the lower (orange) centerline, RUT has made a first test of the L-MLH.
It's hard to say, where this market will go.
The Hagopian indicates a further surge, the test a potential new fall to the south.
Sitting on my hands and collecting theta meanwhile.
P!
GOLD - GC In a higher perspective flow.The discussions I read in the last days can be very confusing.
...at least for someone who don't think about the context, and time, and the difference between trend and flow.
You can not chart something in a daily, and talking about the next 5 or 10 years.
That's foolish, period!
This chart shows what I mean about a longterm perspective.
Follow price from the beginning, and then observe, how it acts and re-acts at the lines.
Then sit back, squeeze your eyes and ask yourself: "Where is price flowing NOW?"
The NOW is your perspective for the appropriate timeframe in this chart, which is 2 Months!
Think about this and let this information flow through you brain if you REALLY wanna learn...otherwise just drop it §8-)
P!
ES - S&P Update shows correct assumption, but with time-delayThe dashed arrow comes from the prior post.
As we can see, we cannot expect the market do immediately what we wish.
But at least we have a clue, how good our assumption, tools & systems are.
Now, we are at multiple resistance points, with ES below the centerline.
Most of the time this is a no brainer, and my shorts are already in and working.
Since I also expect the VIX to rise more (...as a natural function of faster declining markets), I have Vega-Hedged my positions and my options portfolio is now pretty neutral.
Looking forward for the decline in the following days...
P!
RUT - Russel @ decision point - Russel an EntscheidungpunktNot much to say here - if it can break the actual pressing, then we probably will see RUT climbing to new highs.
The downside seems harder to break, since we can see lot's of support.
However - neutral to light skewed positions are not a bad idea IMO.
---------------------
Hier gibt's nicht viel zu sagen - Schafft es der Markt das aktuelle Pressing zu durchbrechen, werden wir höchstwahrscheinlich neue Hochs sehen.
Für die Short Seite wird es meiner Meinung nach schwieriger, da wir etlichen support haben.
Wie auch immer - neutrale bis leicht ge-Skewete positionen sind meiner Meinung nach keine schlechte Idee.
P!
SNAP - Is SNAP on its way to the U-MLH?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 would negate this trade idea.
P!
CL - Crude Oil Zoom & Test and here comes another short target:This one is classic.
Zoom, test and a potential re-test.
However, the target is the lower medianline parallel.
If we close above the centerline, then chances are very high for a pullback to the upside.
P!
GC - Gold broke the sine wave. Short term long....it halted to the tick at the L-MLH.
Supported by the A/R line, what we have here is a long candidate.
As a target I simply choose the EP = Energy Point.
P!
GS - Goldman Sachs again above the centerlineThey managed to crawl above the centerline. again, even in the weekly.
The little pressure favors the momentum for the long side.
Looking for a long entry, up to the U-MLH or to the moon...
P!
SOYB - Soybean CornerHmmm....very interesting to me.
Price bounced at the L-MLH.
It produces what I call a corner.
And if I throw a fork on it, it fits the "edge".
Letting it come back and try to hop on to the long side.
P!
SBUX - Starbux's caffein sine wavesI see these two sine waves as you can see, market on the chart.
In my head, this could play out as follow:
- filling the GAP
- wipe out the longs who placed their stop below the minor sine wave
- pullback and...
- ...because of short term overall market drop, wipe out even the stops below the macro sine wave.
Whoaah...a little too far ahead for my feelings.
But it is how my brain tells em the story.
Just waiting for opportunity to come.
P!
GDX - Observe GoldieTwo times Hagopian.
Now at the lower medianline parallel (L-MLH) and back into the zone from where it broke out.
Let's see if we can find our entry.
Observation Bots send't out §8-)
P!
USDJPY heading south - More advanced Fork Trading.Here we have to slope (frequency) of this market.
Let's just observe and see what's going on.
Maybe the market screams at us and we find something to work on.
P!
NZDCAD MML Entry at old battlegroundAs discussed last week, I am once again looking at NZDCAD with a short perspective.
The pink ML has yet to be hit, as the value area from around April 17 held price off for now. Price extended quickly up and found resistance where sellers took control previously. At this point in time it also coincides nicely with the pink UMLH and price action gave us a mini median line entry signal.
Can reasonably expect price to bounce off this area and test the recent break from the coil down below. Will certainly be looking to move to break even beyond dashed blue line.
EU Short for the gap fillAs taught in the Andrews course we can anticipate a new pivot forming at the blue median line. Already showing signs of rejection with the sellers winning the battle at the high.
If price can break the support line then I plan on taking a short if price retraces to test the break.
Current high also looks nice on a channel in the daily view.
DAX "GER30" SHORTLongterm Short after opening gap for DAX "Ger30" same scenario with CAC "CAC40"
Remember to follow French Presidential Elections
Events at North Korea
etc..
Take Profit at Previous Swing LOWs appx 9400s
SL- With relatively safe trades .... who needs SL when at worst scenario you can hedge :p
Short Bobs Visit on NZDCADBig battle took place at the top of this swing up. Break out bar (bob) shows that buyers are no longer accepting higher prices and can expect price to at least retrace to the median line.
If price gets high enough to visit BOB can go short based on evidence of nobody accepting higher prices above.
Can expect a bounce of the value area on the way up as shorts get closed from above.
ES 15 Minute - Pattern view versus Fork Trading viewA classic TA may see a H&S.
What a Fork Trader is seeing is a different picture.
Watch the picture on the follow up below.
BTW:...it's not about right or wrong, it's about context and education.
