The modified Shiff-Fork describes price very nice. We see how price find's it's way back to balance, below from the L-MLH.
From the balance, the Centerline, price got rejected declined in a natural fashion into the prior Buy-Zone again, where we see confluence with the L-MLH, the lower extreme.
The last Mile looks like price got pressured down. And as the...
At the WL1, price is clearly extended and I look for a Trade up to the L-MLH at least.
(if you don't know what L-MLH means, it's the Lower-Medianline-Parallel - checkout my free course).
Another fact that I want to bring to your attention is, that price reacts very nice at the lines of the Fork - even with all the GAPS in between...
I wish you all a happy and...
Yes, I currently have positions on in this market and yes, they perform very well.
If you are interested in learning how to analyze markets instead of predicting markets (...which is NOT possible), then you are welcome to get my free ForkTrading BLUEPRINT Video Course.
Read the footer of this post!
P!
Price managed to break the U-MLH.
Now, I expect a classic test/retest and then a bounce to the upside.
There are no indication so far, that price will continue to new highs.
So all I could imagine is, a bounce back, maybe to the resistance of the blue Ray.
P!
If you like my analysis, find more about it in the footer.
1. Forks
2. Action/Reaction
3. Support/Resistance
4. Frequency
Learn to earn is the best way to become a independent trader.
Check out my website and start today.
P!
This is how Action/Reaction roughly works:
1) take the center of a major swing
2) mesure back and
3) project it forward.
Observe how price is acting/reaction at the R-Lines.
This is the same principle like: "If you push to a wall, the wall is pushing back."
On my new Blog-Post for registered FreeFTG members, I'm going into details about this technique that...
In this video I explain, why there's a good chance that the drag could be over.
I talk about:
- Forks ...of course ;-)
- Action/Reaction
- Weekly/Daily Charts
- Drag & Pressure
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How about a little prove about my last postings from Bitcoin, on this crypto?
See my last post's and then check out this chart again.
and
I should go to lunch, but hey, here's money to be made and you guys & gals are subscribing like crazy to my website, so...
...THANK YOU VERY MUCH!
When you subscribe, I have to hook you up manually, so be a little bit...
...then you should probably learn to trade the ForkTrading Method ;-)
Seriously - watch the chart and see for yourself how price reacts at the lines of the fork.
As you can see, the Centerline acts as a Sine-Wave center.
The upper and lower lines show you where potential turns could happen.
Missing one of these lines tells you the HAGOPIAN rule = Price will go...
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......
