You can see clearly, that price respects the lines of the Fork.
For those of you who already attended my free ForkTrading BLUEPRINT, you guys & gals know what I'm talking about.
I expect a retest of the L-MLH, if not a crack.
The red line, is where I sold Put Options many days ago. I sold them there for a huge credit, because I knew where to expect a pause of price (at the WL1), if a sharp down move steer in my face, which it did.
However, this is exactly the reason why I am able to trade with 100% confidence and why I am able to put these high probability trades on, even it looks scary.
The , the Model of Action/Reaction and solid risk management give me the freedom in Trading that I always needed many years ago.
We will find out how the story will go on...
Keep in mind that a potential pullback to the L-MLH, prior reaching the CL is absolutely possible and would be natural.
TradingView Blog: http://www.forktrading.com/tradingview-blog
It's the lower line of the Fork: Lower-MedianlineParallel, where the H stands for "parallel".
CL = Centerline
WL = Warning Line
SL = Sliding Parallel
...watch the footer of my posting to get more information ;-)