After price left a Hagopian, we had to expect a move up to the CL.
The reason being the Hagopian Rule, which states that price moves further in the direction it originally came from.
On October 5th, price reached the orange CL, and the next day it moved beyond the previous high. Thus, the Hagopian Rule was fulfilled.
Since then, we have seen choppy trading around the orange CL; a clear sign of weakness. Today marks the third test of the orange CL, showing a bearish tone so far.
Bull Case
Bear Case
Base Case
Hint: If you understand Options, they are probably a much better instrument for a trade in this market. Ever thought about an ITM Call Spread? ;-)
The reason being the Hagopian Rule, which states that price moves further in the direction it originally came from.
On October 5th, price reached the orange CL, and the next day it moved beyond the previous high. Thus, the Hagopian Rule was fulfilled.
Since then, we have seen choppy trading around the orange CL; a clear sign of weakness. Today marks the third test of the orange CL, showing a bearish tone so far.
Bull Case
- a full candle above the orange CL with an open and close would indicate further advancement to the upside, with a target of 1) the 1/4 line and 2) the Upper-Medianline-Parallel (U-MLH).
Bear Case
- a full bar open & close below the white steep pitchfork's L-MLH. That would trigger a short in my account for sure.
Base Case
- weekly sideways chopping around the orange CL. Price would then trade outside of the white L-MLH, in a nerve-wrecking zone.
Hint: If you understand Options, they are probably a much better instrument for a trade in this market. Ever thought about an ITM Call Spread? ;-)
Remove subjective trading:
👉 Andrews Pitchforks applied by fixed rules
👉 Weekly structure maps for Indices, Futures, Energy and Crypto, plus the method behind them.
→ alphametrics.substack.com/?utm_source=tradingview
👉 Andrews Pitchforks applied by fixed rules
👉 Weekly structure maps for Indices, Futures, Energy and Crypto, plus the method behind them.
→ alphametrics.substack.com/?utm_source=tradingview
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Remove subjective trading:
👉 Andrews Pitchforks applied by fixed rules
👉 Weekly structure maps for Indices, Futures, Energy and Crypto, plus the method behind them.
→ alphametrics.substack.com/?utm_source=tradingview
👉 Andrews Pitchforks applied by fixed rules
👉 Weekly structure maps for Indices, Futures, Energy and Crypto, plus the method behind them.
→ alphametrics.substack.com/?utm_source=tradingview
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.