On this chart we have 2 forks.
Orange: the pullback fork
It shows us where the equilibrium is — at the centerline, which the market respected to the tick (1).
After that, there were several bars that formed support (2).
When the CIB line was broken (3), the market gapped above the orange centerline and made its way up to the white centerline (5), the target that we can expect in around 80% of all cases.
Note the confluence point where the centerline of the white fork and the upper median line parallel (U-MLH) of the orange fork meet.
A day later, we saw a sharp sell-off within just one bar! Is this now another trend reversal?
No, clearly not.
For a trend reversal to occur, the market would have to break the white L-MLH (lower median line parallel). As long as the market is trading within the white fork, we remain long.
I’ll make a YT video soon, covering the details.
Wishing you all a successful new trading week.
Orange: the pullback fork
It shows us where the equilibrium is — at the centerline, which the market respected to the tick (1).
After that, there were several bars that formed support (2).
When the CIB line was broken (3), the market gapped above the orange centerline and made its way up to the white centerline (5), the target that we can expect in around 80% of all cases.
Note the confluence point where the centerline of the white fork and the upper median line parallel (U-MLH) of the orange fork meet.
A day later, we saw a sharp sell-off within just one bar! Is this now another trend reversal?
No, clearly not.
For a trend reversal to occur, the market would have to break the white L-MLH (lower median line parallel). As long as the market is trading within the white fork, we remain long.
I’ll make a YT video soon, covering the details.
Wishing you all a successful new trading week.
Latest Video: youtube.com/@TradersTradingEdge
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
Watch the detailed chart analysis on YouTube too.
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
Watch the detailed chart analysis on YouTube too.
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.
Latest Video: youtube.com/@TradersTradingEdge
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
Watch the detailed chart analysis on YouTube too.
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
Watch the detailed chart analysis on YouTube too.
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.