Hello all,
A few things lining up for the short on a first test of the upper parallel of the red pitchfork. The upward grey lines are used for entry and the exit targets. let's see if we get the crack to the downside. Good "R" on this one.
Sincerely,
TIK
A few things lining up for the short on a first test of the upper parallel of the red pitchfork. The upward grey lines are used for entry and the exit targets. let's see if we get the crack to the downside. Good "R" on this one.
Sincerely,
TIK
Comment:
CHART TITLE SHOULD SAY KIWI! apologies!
Comment:
This did exactly as I anticipated after going short on the PB to the first grey line the next bar hit the second line and found some additional support as well.....however, the fact that it rose on the right side of the 1st line shows weakness. So the decision was to hold the short with stops above the obvious high's. The gap between the second grey line and the 3rd is significant as it demonstrates the probability of a clear run to the to either of the Median Lines. The higher one looks more probable based on trajectory......either way the moving exit is the 3rd grey line/ML or the intersections whichever hits first.