Looking at the market's behavior using the orange median line/fork, one can clearly see how the market reacts when it touches one of the lines.
Median lines/forks are not an oracle. They simply project the highest probable path of the price based on a mathematical calculation inherent to the tool.
If you follow the rule set, money management, and risk management, you have a wonderful framework that offers a significant advantage in trading the markets.
Let’s take a look at the current situation:
The orange fork:
– Price closes outside the fork (1)
– Multiple retests of the L-MLH (textbook behavior) (2)
– Break of the 1/4 line, heading toward the 1st warning line (3)
Next movement pattern according to the median line framework:
– Drop to the white centerline (4)
– Retest of the centerline (5)
– 1/4 line (6)
– Lower median line parallel (7) with a possible retest
– Orange centerline of the pendulum fork (8)
Wishing everyone a wonderful start to the week.
Median lines/forks are not an oracle. They simply project the highest probable path of the price based on a mathematical calculation inherent to the tool.
If you follow the rule set, money management, and risk management, you have a wonderful framework that offers a significant advantage in trading the markets.
Let’s take a look at the current situation:
The orange fork:
– Price closes outside the fork (1)
– Multiple retests of the L-MLH (textbook behavior) (2)
– Break of the 1/4 line, heading toward the 1st warning line (3)
Next movement pattern according to the median line framework:
– Drop to the white centerline (4)
– Retest of the centerline (5)
– 1/4 line (6)
– Lower median line parallel (7) with a possible retest
– Orange centerline of the pendulum fork (8)
Wishing everyone a wonderful start to the week.
Note
So far it's playing out OK.Watch how price reacted at the white Forks 1/4 line!
Related publications
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.
Related publications
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.