A/R & Forks catching the price action even on the 15' charts. Let's observe together what happens at the lines.
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We can see, that price was not crushing through the A/R line. Just knocked at it 3 times now. Does this mean: Resistance - Short it! ...? Nope!
It says, that there are potentially sellers, or the buyers are not willing anymore to bid it up. But that is just for now. Shorting this line would be just a 50/50 bet. ...we can do better....observe...
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Now we see the market above the A/R line. Glad we did not short it ;-)
And here's another information we now have. The market paused, what created a kind of a center. If we think, this could be a center, then how about a mesured move:
OK - With momentum to the upside, I would be a buyer at the new identified potential center, with a stop a couple ticks below the center and the target up at the centerline. Lets see if the trading gods will give us a entry...
Let's see what's going on after the market opened.
Will they go up or down, and how will it reveal in fron of us?
Tr8dingN3rd
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New market phase in front of us... hmmm....
OK - this will change the whole trade...
...will it? Will it have a special impact on this analysis?
What to do with our trade?
;-)
Tr8dingN3rd
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Nearly textbook like...and now?
What's a trader to do with a survived trade?
...it was scary this move hu? hehe...jep, it was intended to be scary.
Just play your plan. I'm long (in real...) and know my stats, my numbers, I know what I know and I know that I know nothing.
Observe...
Tr8dingN3rd
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The dashed white line shows
a) it has the same slope like the U-MLH of the Fork
b) to me, this is "pressing"...get the crowd short and bag'em = break the pressing with momentum and kill shorts, to go even more long, but only after they come back again to completely make the crowd nuts.
...observe, let the order (plan) play out.
Tr8dingN3rd
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Observing means - to watch for something that makes you go .....hmmmm!?
You will find out, that it repeats it self, over and over again.
In this case...can you find out what makes ME go hmmmm?! ;-)
Let's see what's going on after the market opened.
Will they go up or down, and how will it reveal in fron of us?