About meI trade Market Structure and will use whatever shows and maps out price action for me. Median Lines, Fibonacci (only very specific values), and Lines (Action/Reaction, Trendlines, Balance Lines, etc.) are part of my arsenal. I am still learning and wil
The Trade: Buying at the lower parallel for a target of the median line.
Why: Price came back to retest both the horizontal and sloping levels. The horizontal level represented energy (look toward the left where price shot out of that level) - buyers are there. The sloping level represented frequency.
There's a lot here, but you can strip most of it away. Look at the test and re-test off of the lower median line parallel. Very nicely done. My first target is the median line. (There are some other indications on the chart for bullish sentiment, besides for the longer-term trend being upward.) Otherwise... perhaps the 123.6 on the Fib.
Price has been holding well against the reaction line. I put in a median line set and am watching for a possible long trade against it. Debating about targets. Fibs are in play as of now (both retracements and extensions), as is the median line if the fork holds.
Once again I am looking at the USDJPY. Took a short off of the upper median line parallel (stops above A) Target at the median line. The touches on the tail are nice and the range play seems nice. R:R is also good.