Here is the fork on Cable 1 hour chart,
be sure to watch that down sloping trendline, it is the larger median line from the Day and week.
it that brakes below, it is good news, Andrew stated that, if price can not reach the median line,
it will go down. so if it can not reach the median line on the H1 fork, it should go to the lower paralell on the H1 fork to begin with.
(edited)
be sure to watch that down sloping trendline, it is the larger median line from the Day and week.
it that brakes below, it is good news, Andrew stated that, if price can not reach the median line,
it will go down. so if it can not reach the median line on the H1 fork, it should go to the lower paralell on the H1 fork to begin with.
(edited)
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as usuall I write wrong and I don't know how to edit, I hope you understand the meaning
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today we can see that the larger median line act as support for price on the hourly chart, will it hold or will it eventually brake? that is what we need to keep a close eye on, I think it will play a bit of ping pong between the two median lines before it decide to either brake up like a rocket, or fall like a brick. either way we have a large target, it is either the upper or lower paralel line.
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so we can see before time that probably a descending broadening wedge with a flat top will eventually form, which can be bullish, but I will ramain bearish because the trend is down on weekly, we should now probably wait until the h1 fork has broken down before shorting it on a pullback to the larger line, that will probably be after the broadening wedge has gone to it's target if it brakes up or after it has broken down