Here we have a nice example of an EP, what we look for to enter a trade.
The yellow fork is a tradtional andrews and a charly delta as taught by my mentor. the purple fork is based of the UP, when extending it into the past we can observe some nice hits.
The EP formed so far, gave a nice 1:4 risk reward and we will see where price takes us next.
Lots of confluence of support and resistance at approximately $8388 on 8/08 at about 12 UTC.
These 'energy points', or confluence, can be a strong attraction for price action. I've been watching them for a little while, and they fascinate me.. I've seen price action do some pretty impressive stuff to hit these pitchfork points.. I am very curious to see if...