In the NQ, they took out the high and then hit it on the head day by day. It finally stopped below the 1/4 line. If you look closely, you see that this was the slanted zone of Support — just like the slanted Resistance.
"As above, so below."
...write me in the comments who said this already a couple hundred years ago §8-)
The small Modified Schiff Fork tells a story too.
Price reached the Center Line and got rejected. Now it's on its way down towards the small Fork's L-MLH. A break of it would indicate further selling ahead.
And the last bastion is the green support level, which stems from the second-to-last prior confirmed Swing Low.
Beyond this level, it's only a question of time before price hits the Center Line.
And — God forbid — below the Center Line, the Sh...t hits the fan. So you better run... behind price with a decent short trade and ride it down to the Abyss.
No worries, I'm with you §8-)
Happy Monday, folks!
"As above, so below."
...write me in the comments who said this already a couple hundred years ago §8-)
The small Modified Schiff Fork tells a story too.
Price reached the Center Line and got rejected. Now it's on its way down towards the small Fork's L-MLH. A break of it would indicate further selling ahead.
And the last bastion is the green support level, which stems from the second-to-last prior confirmed Swing Low.
Beyond this level, it's only a question of time before price hits the Center Line.
And — God forbid — below the Center Line, the Sh...t hits the fan. So you better run... behind price with a decent short trade and ride it down to the Abyss.
No worries, I'm with you §8-)
Happy Monday, folks!
Watch the latest Chart Analysis video on YouTube!
youtube.com/@TradersTradingEdge
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
youtube.com/@TradersTradingEdge
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
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.
Watch the latest Chart Analysis video on YouTube!
youtube.com/@TradersTradingEdge
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
youtube.com/@TradersTradingEdge
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
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.