So Forkers - here's your Bond Trade I've mentioned in the free ForkTrading Group Weekly Outlook. Next Station, WL4. P!
...it a) broke the L-MLH b) is retesting the L-MLH b) soon fills the GAP c) is way overbought anyway ;-) That's why I lean short - not entering right now, but put it from my observation list to my hunting list. P!
The white Fork shows that price fell back to balance. The orange Fork reveilles where the Pull-Back balance is. If price is closing below the orange Centerline, then chances are very high that we see price at the white Centerline very soon. Although I like the company very much, I know what my job in trading is...it's a clear Short to me. P!
As far as I know, there's a common axiom that says: "What goes up, must come down". Where are we? ...the answer is clear to me. Learn ForkTrading and get your Free ForkTrading BLUEPRINT now. P!
Just in case you are wonder how far Crude can fall: Expect the L-MLH with a high probability! P!
Here it comes, the rise... As I said in the weekly outlook on my FTG-Members BLOG (register for free...), you see now price above the L-MLH trying to crawl up. The brach of the L-MLH last week is a great indication for BTC to rise, since it found support again on a test/retest. Me ---> Bullish P!
In earlier centuries, the crowd would had thrown me on a stake if I where to out myself as a "Fork" Evangelist §8-) The Chart: You can see clearly, that price respects the lines of the Fork. For those of you who already attended my free ForkTrading BLUEPRINT, you guys & gals know what I'm talking about. I expect a retest of the L-MLH, if not a crack. The...
Hagopian = Price missed to reach the "next line". We can expect a pullback farther then from where price came. (check!) Pirce is at the upper WL1 (Warning-Line 1), the upper Extreme = Price is extended, stretched. We can expect at least a pullback, or even a move to another extreme, the Lower-Medianline-Parallel (L-MLH). (check!) In over 80% back to CL ...
As far as I can interpret the facts from the chart, I would say that there's a potential support for this Stock. You see the confluence point from a couple of potential support levels like the Fork, the horizontal, the over- and under shoot level etc. If you want more details check out my TradingView blog where I post the step by step analysis, from the clean...
Soon we will see USD at the lower extreme. Observing how buying in will proceed. P!
As we see, price reached the Centerline, which is Rule Nr. 1 on ForkTrading: "Price reach the Centerline over 80% of time". OK, but what now? Energies move from balance to extremes. This means, that price will either drop to the L-MLH, or trade through the Centerline and towards the U-MLH. Since we don't know what will go on from here, how about to take both...
Apple found its balance. We see that the drop stopped at the Centerline, a price target which was expected. I elaborated about it in the Weekly Outlook on my website. From here a further drop must be confirmed by a close below the Centerrline. A sharp rise would not impress me, since there where multiple attempts to reach the U-MLH. P!
Very nice how price reacting at the Fork lines. The red resistance line must be broken first, not just pierced. The target is at least the Centerline. Let's observe together how this develops. P!
Here we see, that price is trading very nice within the Fork. Until we break out of it, there is no doubt that we heading south. Observe! P!
1. Forks 2. Action/Reaction 3. Support/Resistance 4. Frequency Learn to earn is the best way to become a independent trader. Check out my website and start today. P!
Since my last video post, price banged it's head precisely at the L-MLH and fell back to the virtual Centerline (red-dotted). This is no surprise, because more often then not, we see test/retest after one of the Fork's lines are broken. At this time, price has a good chance to turn trend, since it's stretched and most of the longs have puked out the last...
Now that price failed the second time at the U-MLH, the rules tell me that there's a very high chance to shoot ...oh sorry...to short Tweety §8-) Target would be at least the Centerline (as explained in my free course material - see footer). Be aware that earnings are ahead next month! P!
On my private blog (see footer), I teach about the pure Action/Reaction and show prove of concept on the ES-E-Mini. Here we have Gold and this shall be a tiny appetizer, before you grab the whole menu. Watch and learn. P! §8-)