in expanding pivots, when the 0-4 line is broken, price will travel below the 0=4 line equally as it was above it. Should go to the second warning line of the light blue pitchfork.
I think price will go up to the median line of the upsloping pitchfork, maybe the upper median line parallel. Risk 20 pips, reward 115 pips. Price has followed the upsloping pitchfork, it has good frequency plus broke a swing to the upside before retesting the lower median line parallel.
Lower hi's and lower lows = downtrend. until I see a few bars w higher lows and higher highs, thats that. Price made a lower low but didn't close below the prior major low. Lets watch and see what happens...
As always, the trend is your friend! The warning line is showing good frequency as price has respected it . Now look for an entry near the warning line with a nearby recent swing low to hide a stop behind.
www.tradingview.com
Same pivots with a mod schiff looks real good. more frequency = more probability & opportunity. stop loss below the recent low. Buy the Blue LMH, Sell ML for profit. risk reward is 4 to 1. www.tradingview.com
The down fork has good frequency on the upper MLH. I may miss the entry as I am a little late. I need to enter near the UMH with a tight stop above a recent lower high or forget it. That is why the risk reward is 6.4 to 1.
www.tradingview.com
www.tradingview.com
Price just began to make higher hi and higher lows. A change in behavior. Lets try to get long at the LMH and take profit at the ML. Keep your stop below the last low of 6985. Risk reward must be 4 to 1. The pitchfork has excellent frequency.
www.tradingview.com
Lets try again to get long at the LMH with a 25 pip stop below the recent low and profit at the ML. Risk reward around 6 to 1 if I can get in soon, say the next 5 bars or so.
www.tradingview.com
I like the frequency of this fork to the upside. Tight stop at and risk reward of 7 or 8 to 1. try to enter at 149.37ish. Stop at 149.17
Price broke below the blue upsloping LMH and made a new recent low. The downsloper I drew in doesn't have much frequency on the tail. the ML did provide recent resistance. www.tradingview.com
The upsloping red median line held price. Price also bumped above the downsloping red median line, suggesting further upside. There may be a re-test of the area where the second red arrow is. Where the down and up sloping lines intersect. I am still just watching for now.
Lets see if price will respect the downward sloping pitchfork. If price stays below the blue upper median line parallel, it will probably hit the red median line.
lower highs and lower lows = downtrend right now. When I see a change in behavior, I will consider going long again. The downward sloping pitchfork shows the probable path of price. Specifically , the lower down sloping blue line, AKA the lower median line parallel where I have the big red arrows, is my price target for now. If price closes above the down sloping...
