How to Spot Bearish Rainbows and Waterfalls on the MFI
I made a discovery tonight. Whenever the bar-chart is noticeably above the MFI line for several mountain peak ranges, like a rainbow, or when it's noticeably spilling out of the peaks like cascading waterfalls, that's very bearish.
On the other hand, a 1hr chart is bullish when it ascends through the middle of the MFI mountain range, like a sloth gripping and slinging through the trees.
Exploding through the top and forming rainbows and waterfalls is always a bear flag.
On the other hand, a 1hr chart is bullish when it ascends through the middle of the MFI mountain range, like a sloth gripping and slinging through the trees.
Exploding through the top and forming rainbows and waterfalls is always a bear flag.
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