It's a tiny little bit nerve wrecking with the RUT and others too. So far nothing to do, just observing. I wait for a potential break of the small trendline, then observe further, waiting for a potential pullback. standby...
Even in the Daily TF we see a high potential for a bounce to the downside. WL1 (Warning Line 1) is reached. This will be a nice bet next week. P!
Amazing how A/R and Forks catch important resistance and support. It looks like RUT is leading the pack and it is like confirmation for the other important indices. P!
For our Options Butterfly Traders: Here we can see the close from yesterday 23.6.16 Watch how price act on the Forks & Action/Reaction lines. P! Larn To Earn: mytradingcoach.teachable.com
With the centerline, there is also a natural resistance from the past (red zone). A break of this zone would imply a further move, at least up to the U-MLH. P! Your Free Course: mytradingcoach.teachable.com
Sinewave masures the last major up move. ...sit back, study and let your brain work ;-) P! mytradingcoach.teachable.com
What is important on this chart is not the trade! It is how you can see support and resistance at the lines. If you know how to use these tools your chance of profit increase dramatically, because all these lines do is follow the law of Action/Reaction - Newtons law. It's not a holy grale or such. But when something is happening over 80% of time, then we should...
Gap filled and now down we go... Let's see if the third pattern evolves the same way. P!
...down again? hmmm.... As we can see the lower centerline was allready reached. If price can work it's way above the upsloping centerline, then we are going much high, potentially above the GAP. But if price will be rejected at the centerline, then a new low or a second touch of the downsloping centerline is highly possible. P! Learn this stuff for free at:...
U-MLH got broken and price even made it above the big-boy Centerline. On the mini-Fork, price reached the Centerline the second time and now I expect a Pullback to the black and / or even down to the U-MLH. Anyhow, the potential is present that price could sky rocket up to the U-MLH or further to the TrendBarrier. P! Fork rules? Here they are:...
Understanding where extremes in markets luring, can be very helpful. Most of my trades are with options for credit See where the green circle is - it's where the lower extreme sitting to shoot up price again like a cannon. The opposite is at the CL (Centerline), where the red circle is. This is where the energy is running out. Now we will see price back to the...
A quick chart for TNA...abcd could be in the cards. Has retraced a 61.8 and bouncing. I'm early in on 1st long position Safe trading Ladies & Gents BM After posting chart: ( The fib should have been at the exactly top - then a perfect spot on 61.8 retrace could be seen)
Russel done making it's correction with a EW triple combination. Finding support at the middle of trend channel. More important...Closing within bollinger band.... I see a move up here. Safe trading Ladies and Gents! BM Music at work: open.spotify.com www.youtube.com
Looks like a double zigzag is in the cards ... but could go lower for the 1,168 fib for completion. A capitulation flush and then a strong bounce up. But i'm hesitating to go in for more than a scalp here. Monday could be the day of good timing after a friday sell off before close. Time will show Safe trading here ladies and gents! BM