Beauty of lines encapsulating market flow and defining market structure. Sliding Target Profit 1 will meet first resistance of upsloping purple Sliding Parallel. Overall trend is up.
You can see how news conformed to the market structure as price gaps up nicely to the newly formed median line (ML). This beautifully describes the price as it is forming the beginning of a new trend into the Upper Band and also joining the old frequency band if you look at the previous Upper Band sometime before mid April 2013. With the strong gap up and...
Price is ranging around the median line of the major pitchfork and has retraced below it facing the upsloping sliding parallel as support.
Cancel your sell stop and stay away to observe whether price will drop down to upsloping MLH. It records new high now so trend up.
Wait for opportunity to short with target of 1240.00
If price breaks below the low at 25.86, price will head toward ML
Nice example of exhaustion gap or island gap especially at the MPL. Overall trend is down so good to short when price crosses 433.33.
Overall uptrend. Wait for nice retracement down to the u-mlh for entry.
Zoom out to see the overall major pitchfork. You can see how prices are attracted toward the ML like a magnet. Shorting is short term only.
Price going sideways. Look to short once near u-mlhof mini PF
Right now prices just broke to the upper band of the pitchfork. When prices near the ML we can expect three possible actions: 1) Reversal 2) Ranging or sideways 3) Violent piercing past the ML
Overlay with a pitchfork that cross section the upsloping inside Median Line to look for confluence and potential resistances via warning lines
Using inside ML. Look to long once price near the L-MLH with nice pin bar rejection.