That's a bold call, isn't it?
Here my analysis:
- red CL hit 3 times and price got rejected
- MACD kinda nice filter
- Medianline rules in play: HAGOPIAN
- overall economy is going down the toilet too
- Gov's....not even worth a word
Happy Santa Downhill, Hope You're Short Too §8-)
Interesting enough CPI news pushed price up to the L-MLH and immediately rejected it.
Thant's crazy, but it's no wonder.
Allen Andrews Action/Reaction just works. Why? It's the law of nature.
Newton exposed it, Allen Andrews brought it to the markets.
Sellers took control of the market with the tail up at the high
buyers tried to go higher after the tail and sellers hit them back down
Buyers tried to step up and hold the line but couldn't - sellers swapped them out
Market is going down now until it's not
Wait for the expansion back into the swing before getting long
price will pull back into the major impulse leg
make its pivot and expand out for new high but to be sure
target is at the Median Line for 3:1 trade
Stop is a cash Stop and is 30% of the reaction leg of the swing
Trading Continued Behaviour
EURUSD 1H Mod-Schiff retest
X= last structure support
B= price breaks structure
Once B prints we look for a pullback to create C
C= Is this the pullback?
Add the Mod-Schiff set to see if we get some frequency.
D= A strong test and rejection of the UML.
Place immediate sell order.
This can be at the UML (1.0734) or slightly in front of it depending on your...
Counter Trend Median line trade.
Any tests of the LML needs to show a strong rejection with signs
that buyers are showing up. A grinding sideways movement usually signifies
that price has just paused before continuing. Taking counter trend trades on weak
tests will deplete your trading account quickly.
A red WRB probes the LML after the recent low. Price zooms...
Price is Pulling back from the low in REACTION LEG of Swing.
Price is Pressing higher into the 2nd half/Growth zone of the Reaction Leg.
Trading a quick Long into the High of the Reaction Leg.
Price is PUSHING so Buyers will be quick to exit if Price starts to eat back into their position .
Keep STOP tight and look for a 3:1 trade up into the Stops of the Sellers.
Buyers and Sellers are keeping price in a Range
Buyers are holding at the low
Buyers step up
Buyers get washed and Pivot is created
Buyers step back up and take price higher
Buyers are turning price up
Looking For a Double of the Range
NASDAQ:SOFI intra day is trading at >$16 as I type this.
On December 10th SOFI was printing below $15.46
Since then, it has tested the $15.46 level twice since its initial drop below that level (a 20 calendar-day period).
Lets back up in time some for context:
On Nov 11 SOFI printed intra day at $24.63
Since then, SOFI has been trending downward and has...