The price hit the Upper Median Line Handle (U-MLH) three times and was rejected each time (red circles). These were all high-potential short trade opportunities.
However, none of these short trades managed to reach the Profit Target Goal (PTG) at the Center Line (CL). When the price repeatedly fails to hit the CL, it often builds up momentum for a larger move.
The last short opportunity from the U-MLH was at Circle #3. If you missed it, you have another chance now. Breaking the "shelf" (the petrol support line) is just like breaking a Median Line or a Center Line. It’s not magic—though it may sometimes seem like it.
The three slanted petrol lines extending to the right function the same way as a fork. So, we just broke the (petrol) Center Line, right?
Now, where is the price likely to go after breaking this (petrol) Center Line?
That’s right! There is about an 80% probability that it will move towards the (petrol) Lower Median Line Parallel.
What a coincidence—it aligns exactly with the red Center Line!
Of course, this is all based on probabilities, not guarantees. We can't predict the future, but we can rely on rules, statistics, and knowledge.
I hope you learned something today.
If you enjoy my work, I’d appreciate it if you like and share it with others.
Have a great day! 😊
However, none of these short trades managed to reach the Profit Target Goal (PTG) at the Center Line (CL). When the price repeatedly fails to hit the CL, it often builds up momentum for a larger move.
The last short opportunity from the U-MLH was at Circle #3. If you missed it, you have another chance now. Breaking the "shelf" (the petrol support line) is just like breaking a Median Line or a Center Line. It’s not magic—though it may sometimes seem like it.
The three slanted petrol lines extending to the right function the same way as a fork. So, we just broke the (petrol) Center Line, right?
Now, where is the price likely to go after breaking this (petrol) Center Line?
That’s right! There is about an 80% probability that it will move towards the (petrol) Lower Median Line Parallel.
What a coincidence—it aligns exactly with the red Center Line!
Of course, this is all based on probabilities, not guarantees. We can't predict the future, but we can rely on rules, statistics, and knowledge.
I hope you learned something today.
If you enjoy my work, I’d appreciate it if you like and share it with others.
Have a great day! 😊
Note
I would love a pullback up to the petrol A/R line (remember, it's in essence just another Medianline).From there I want it to see selling pressure. If that happens I would load the Boat even more.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.