As we see, price is stretched to the downside. Price got rejected at the L-MLH (orange), and is now in bounce mode. I'm considering buying in to this blowoff slowly - if anything... I want to see price stabilising here at the low, then waiting for my signals and then start buying...maybe... ;-) So, no hurry for me, because there are millions of trades waiting...
I never have seen such a bubble, going nearly straight up to the 8th Warning-Line! But on the way, price reacts at these support/resistance levels (Warning-Lines), drawn in advance by the rules of Action/Reaction (see the white circles). I mean, if this is not taking your attention, and make you thinking about testing the ForkTrading technique......
After LTC, ETH rally BTC will gain volume because of the coming end-of-the-year air-drops of its self forks...
I elaborated about this pattern here on TV already a couple times. Because we have reached the Centerline and price formed this pattern, I'm confident that we could see a larger move down to the L-MLH. Let's observe how this plays out to get a good understanding of the price movement within this context. P!
Watch how price reacted at the Fork-Lines. First price could not break down to the CL, after reaching the U-MLH. This is called a "Hagopian". This means, price will go further in the direction from where it came. And so did the Market: Price was running up, above the U-MLH and towards the Warning Line. But there again, price failed to reach the WL and that was...
RUT is screaming to the upside - again. Where there Indications to it? Well, I mean, we are never able to "predict" markets, right? But what we can do is, apply a functioning method with rules and put together the puzzles. I drew in the different Forks for the different levels of context and analysed the Pendulum-Swings and Swings. Here's a detailed How-To...
I really like this video function from TV and it's a great tool. So far it works great :) Here is my analysis of the Copper Market. I see a potential long trade, but also a potential to fall down further to the lower Centerline. If you don't know yet what a Centerline, a MLH, a U-MLH, a WL1 is, then grab your free ForkTrading BLUEPRINT on my website (see footer!). P!
WOW - Another Bulls-Eye feature from TradingView! Here's my first recording with the ES on the chart. Check it out if it works and don't forget to grab your Happy TNXGVNG & P!
Since I mostly trade in the higher timeframes like daily, weekly & monthly, I sometimes need to sharpen my eyes and mind. This can be done in the lower timeframes like hourly and even minutes...gee I hate these lower TF's because I'm not really good in these lower environments. But to evolve and to take bigger steps, one has to leave the comfort zone. So do...
The U-MLH is broken the second time now. If price falls back in to the white Fork, then I stalk a short down to the CL. To filter out the short signal, I use mini Forks. The L-MLH must be broken at least. Hunt mode on. :) P!
This is a big picture chart looking at resistance and support levels. The vertical lines mark events. 1st red line is BCH fork. Next blue line is the start of the first LTC spike Followed by the green top of the LTC spike. Then 2 more red lined on the BCG and failed 2X fork. These are followed up by a blue line 1 month after (same time frame as before) which...
Price overshoot the U-MLH of the downsloping Fork, but came back into the Fork. Now there is a big chance that price will make a nice move to the downside. Besides COPX I usually doublecheck with the HG1! Futures, and they are in line now. Curious if it falls down to the Centerline, or if it stops at the L-MLH. P!
This is a nice example how: a) price reaches the Centerline (...over 80% of time) even multiple times b) forks catching price extremes very good c) action/reaction can be uncovered in the markets (...hi Newton, thanks for your axioms ;-) ) Of course, you just can use the Forks and it's ruleset to catch high probability trades. But if you dig deeper and "learn to...
This is what I was waiting for a long time now. The breach of the U-MLH ist the first step. The next will/must be a close within the Fork, and I'l put on my short with target to the centerline. Looking forward for to a pre- Christmas gift §8-) P!
So, price walks vey nice within the fork. Until at least the first low is broken, there is no short trade for me. Other then the ES, I see nothing to short this market at this time. P!
Do you remember how I got flushed down the toilet with my Weat trade? Well, here's another one - hopefully I don't have to deep dive again... Let's see if we can make something out of it. No, not entering immediately...there's a GAP that scares me to go long. Patience jung Padavan §8-) First I'l observe, how price behave down here at the centerline. Peace!
Watch this chart an learn. You can see how price reacts at the Fork's line. Even in a steep rise you can project the path of price super nice - See the Mini-Fork. P!
Just look, study and begin to see. If you know the rules about Action/Reaction, about the Forks, you have a better sense what potentially could happen when price reaches the centerline, or breaks out of the U-MLH and comes back ("overshoot" - "back to centerline" in pink). Follow each bar, from left to right...slowly...think about what's going on bevor going to...