AU reached the confluence point of both forks and a heavy resistance from prior highs.
If price breaks above the white U-MLH, I would be willing to buy a retest.
But, because the blue L-MLH was expected to be retested as of the rules of the framework, I can imagine price to bounce back first, bevor breaking to the upside for a longterm move.
Observe...
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This was the former post. Read it and learn how this did unfold.
And now I will wait for a retetst of the centerline.
In my brain there is the Weekly chart...it's L-MLH is breached! This means, that price will test/retest it on the weekly bevor falling off the cliff if it really does. If this is the case, then the gas station has to pay us...
Here's the...
Here we have Nike, coming back to the L-MLH.
To me this looks like a gift from the trading gods.
I sell ITM Puts and buy more OTM Calls.
If NKE drops out of the L-MLH, the party is over for me.
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Here we have it on the daily.
This will be a rocket ride, leaving "Forest" way behind.
One way ticket, one way ticket to the mooon ;-)
Trade save and don't jump the gun!
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DASH price has become MASSIVELY over-inflated into a giant bubble which has now burst.
Yesterday Bitfinex added BCC and BCU tokens to allow traders to speculate on the future price of BTC and BTU respectively (these tokens will then be fully-convertible post-fork).
Currently BCC (BTC) is surging ahead. This will lead to downward pressure on DASH which has been...
Here we have SNAP, respecting the U-MLH and reached the Centerline perfectly bevor bouncing up.
This 60min. bar is not over now, but we already can see how price of SNAP reacting at the centerline, the place where price is going in over 80% of time.
From here, price could zoom through the CL. or bounce back to it, just to turn and go north.
Observing...
Usually if al Medianline is zoomed or gapped, we can expect a Test or even a Re- Test to it.
From then on, price will fall.
In this context I see a small Sine-Wave pattern (yellow dotted Sinewave).
We know that the center of S.W''s. are usually get broken, bevor the market starts to turn again and bags the shorts in the up move, wich in it self again produces a...
Crude is in correction mode.
It's beautiful trading within the Pullback-Fork and has broken the L-MLH of the smaller blue PB-Fork.
The actual pullback to it is textbook like...which I like! ;-)
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Watch this chart an learn.
You can see how price reacts at the Fork's line.
Even in a steep rise you can project the path of price super nice - See the Mini-Fork.
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Just look, study and begin to see.
If you know the rules about Action/Reaction, about the Forks, you have a better sense what potentially could happen when price reaches the centerline, or breaks out of the U-MLH and comes back ("overshoot" - "back to centerline" in pink).
Follow each bar, from left to right...slowly...think about what's going on bevor going to...
Price broke out of the big downtrend (white fork), took a couple dance-steps on it (yellow ovals) and gained strength.
Look what the pink bar did.
It broke the prior small resistance with gusto (Indication!).
Then it flung up and down a couple times, and defended the grounds (green) to break the U-MLH (blue fork).
The close outside the blue downsloping fork and...
The real last high was on 2015/08/31 - with a very low close, basically a give-up.
From 2016/01/08 price started to stair-step in big swings.
The prior high, from where buyers gave up, was the exact point where they once again ran out of power, failing to break north and go higher.
OPEC brought news in the last days - they would even lower prices much more to...
No, I'm not in this trade.
But we can learn very much from it:
- price is in a clear downtrend
- then it starts to recover by making smaller stair steps against the DT.
- price breaks minor support and...
- ...comes back to where it gave up (pink block)
If price comes back again now, I'm very keen to take a short.
The important part here is NOT the trade.
It...
Price climbed above the centerline, came back to it and now start to go to the upper extreme, the U-MLH. If we retest the CL. again, it would be a opportunity to load up more, or to enter if you're not long now and would like to take the ride.
I always stay small and trade as often as my rules dictate, to participate from the statistical chances.
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