The red and green lines nicely illustrate what true support and resistance look like.
At the moment, it appears that the market has formed support again (1), but we can’t really confirm this since we don’t have a higher high that has been broken. So we can only assume that the base is at the C point.
We’ve been trading within the fork for several months now, which suggests that we’re once again in a longer-term upward movement.
If that’s the case, then we look for a nice profit target (PTG1) at the CL, because we know there’s over an 80% chance of reaching it.
An open and close outside the fork would be an exit signal, and could indicate a possible reversal to a short position.
I’ll explain further details in the YT video.
At the moment, it appears that the market has formed support again (1), but we can’t really confirm this since we don’t have a higher high that has been broken. So we can only assume that the base is at the C point.
We’ve been trading within the fork for several months now, which suggests that we’re once again in a longer-term upward movement.
If that’s the case, then we look for a nice profit target (PTG1) at the CL, because we know there’s over an 80% chance of reaching it.
An open and close outside the fork would be an exit signal, and could indicate a possible reversal to a short position.
I’ll explain further details in the YT video.
🔱 Follow The Fork 🔱
👉 Avoid subjectivity.
👉 Find multiple R Trades.
👉 Trade the Medianles aka Pitchfork Edge
👉 Avoid subjectivity.
👉 Find multiple R Trades.
👉 Trade the Medianles aka Pitchfork Edge
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
🔱 Follow The Fork 🔱
👉 Avoid subjectivity.
👉 Find multiple R Trades.
👉 Trade the Medianles aka Pitchfork Edge
👉 Avoid subjectivity.
👉 Find multiple R Trades.
👉 Trade the Medianles aka Pitchfork Edge
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.