The down-sloping Fork reveilles the most probable path of price. And we see how price reacts to the Forks balance line, the Centerline (CL).
It's just wonderful, watching the ebb & flow of this market eve on this lower timeframe.
I would not immediately short it but wait for a better tell.
Reaching the orange zone would not surprise me, since this is where real...
How many lines does one need to describe the markets?
Well, if you know about the universal law of Action & Reaction, there's not much to draw.
Keep it simple, but know what you draw and what to expect from.
P!
...don't miss the ForkTrading BLUEPRINT on my website...learn to earn.
Here's the chart I've posted about the Short in this pair.
With this chart, I want to give a more in-depth view on the hourly chart, although I only manage my trades in the original chart.
You see the Blocks (orange & red).
These are very often important structures. They have their merit, and we can get useful information from them, supporting our decisions in...
Finally backflip above the CL (yellow).
Now it looks like a parabolic move.
Let's see if we can reach the U-MLH or at least the shift (white dotted).
P!
On my website you'l find the HowTo guide on the Blog.
Price is at the WL1.
If it can close above it, WL2 will be next target. If not, a re-visit of the U-MLH is likely.
Observation mode on...
P!
The modified Shiff-Fork describes price very nice. We see how price find's it's way back to balance, below from the L-MLH.
From the balance, the Centerline, price got rejected declined in a natural fashion into the prior Buy-Zone again, where we see confluence with the L-MLH, the lower extreme.
The last Mile looks like price got pressured down. And as the...
There we have the bump.
Now price will blow off to the downside to visit the white A/R line probably.
Here's the link to the original A/R Post where I started it a while ago.
The white Fork describes the context and where price potentially can pullback to. As we see, price reached the Centerline two times. Now, the third time it failed!
The yellow steep Fork describes the current flow, which looks like it is to the upside. BUT: watch, price is outside the L-MLH.
Even worse, price tested the L-MLH a couple times now, but could not push...
At the WL1, price is clearly extended and I look for a Trade up to the L-MLH at least.
(if you don't know what L-MLH means, it's the Lower-Medianline-Parallel - checkout my free course).
Another fact that I want to bring to your attention is, that price reacts very nice at the lines of the Fork - even with all the GAPS in between...
I wish you all a happy and...
Sounds dramatic?
...I think it is.
Every commodity has it's price. But only the one that Humans are giving it.
Why has Gold failed so many times to make new highs? Why did the Bank of Canada sold (most or now all?) its Gold in 2016?
Yes, I know, we don't trade on fundamentals, but pure price and Action/Reaction. However, sometimes fundamental facts have their...
...for a potential blow up to the upside.
Price climbed above the orange U-MLH, then above the WL1 (yellow), and now found support at the L-MLH (white).
Need more BTC! §8-)
P!
