If you think like me about the Cryptos, then this is the level to fill the pockets even more. To me this is not just a simple trade, but a campaign to accumulate at valuable levels.
We reached the Profit-Target after the last post.
Now we are on the way to buy more at certain levels, see chart below.
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We see two opposing forces.
The orange A/R lines and the white Fork.
The orange dashed Centerline will be first resistance.
But the good news is, that if price can manage to jump above the orange Centerline, then the next target is the white Centerline.
And once above the white Centerline, stage #3 is the orange U-MLH (Upper-Medianline-Parallel).
This is a natural way how Bitcoin comes to live again, producing swinging volatility which we can trade with simple rules.
Happy harvesting §8-)
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In the chart below, we see two opposing forces:
If price climbs above it, then price will proceed up to the white centerline before a potential resistance comes into play again.
These are just the short term targets.
Of course, a U-MLH (Upper-Medianline-Parallel) is always possible to reach and very often, price will do over time.
So let's observe and learn from this example.
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 ForkTrading members know, pressure lines often get broken to the opposite side.
A rise up to the Centerline, or even up to the U-MLH seems likely to me.
Let's find out if it holds true.
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This is a clear sign that price has spent enough time in the South and is planning it's journey back to the North.
Until price leaves the track, which would be the case after closing below the yellow dotted Sliding Parallel (SL), the path of price is clearly to the upside. Next Station: Centerline City ;-)
Happy Profitable Week Folks. Emilio
Price has reached a extreme at the U-MLH, where a pullback was expected.
The move to the Centerline had a very high probability of over 90%, and it played out like textbook.
Bitcoin is now at a critical stage:
If price falls below the Centerline, I first expect a pullback to it, then a further down move to the L-MLH.
If you already where going through the ForkTrading BLUEPRINT, then you know how this potentially can play out to the downside.
Send me your comment and participate