Now that price has close outside the U-MLH, we also have a additional little confirmation with the MACD, for thoes who give credit to the Oscilators. The stop behind the structure and the lower extreme gives me no headache. Here's your free Action/Reaction & Fork Mini-Course, enjoy: mytradingcoach.teachable.com
As far as i know, price is going to the Centerline over 80% of time. And price reached its max. with overshoot at the U-MLH. Let's see how physics unfold... ...oh btw. - some call the pattern that was built since 2016-02-10 a H&S ;-) P! Give your learning curve a try - it's free: mytradingcoach.teachable.com
The massive overall DT say's, it's not over. Then we have the nice Pullback. up to the Centerline, where price usually runs out of fuel. Expecting a further decline down to the L-MLH. P! Like to learn? mytradingcoach.teachable.com
Last week we had ECB decision about int. rat. to zero, what caused the flash down to the A/R line to the tick. Now, the Action is over and the reaction can follow. Price landed in the Buyers Zone again, which was first washed out by the Sine-Wave move down to equilibrium. Then we see the normal "Bubble-Up" (the reaction from priors action) up to the CL, which...
From extremes to center - in any context. 1) Price is at lower extreme of the black, big fork 2) ...runs back to centerline of the black fork 3) and comes back to another center, the small red upsloping forks one. It's just another context. Will it rest there? Dunno...nobody knows. But if you observe, make your one stats and can beleieve in them, then you know...
I have seen this many times. Check this out >>>
From the U-MLH, pullback down and up again, to bang the head at the A/R. And for classic pattern recognition lovers, we also see kind a H&S. From the U-MLH, we have a great chance that price comes down to the Centerline, as "Timing Is Key" found in the old documentaries from Andrews himself. P! For those of you who like to evolve in Trading and are interested...
Near the TB, priceaction becomes nervous very often. So, i would not wonder if price pokes through the TB, even up to the WL (Wanring Line - Dashed Black) and then fall again, even back to the U-MLH (Upper Medianline Parallel) or to the L-MLH. Interested in Action/Reaction and the Forks? Here is a very basic course for you - free: mytradingcoach.teachable.com
Understanding where extremes in markets luring, can be very helpful. Most of my trades are with options for credit See where the green circle is - it's where the lower extreme sitting to shoot up price again like a cannon. The opposite is at the CL (Centerline), where the red circle is. This is where the energy is running out. Now we will see price back to the...
A/R's giving support around 0.99 Red down fork's UML-H is broken with a nice close and a PinBar, marking more support for the pair. Going for upper Extreme (blue / black A/R) P! Free, very basic A/R Crouse: mytradingcoach.teachable.com