The trade here is not important. What is important is the use of RL's. There is only one ML showing in this chart( green) and that is from the weekly chart posted earlier. All the other RL's are from multiple forks in multiple time frames. We can see that price has already been supported by the line and price as we know is in a vigorous but slightly hysterical (oxymoron?) uptrend. The downsloping warning line (dashed red) just above the yellow trend/divergence line meets the upsloping RL. We wait-watch and then see 'Maccy-D' divergence(yellow lines) and the ribbon stochs have just bounced/curved up-not sharply but with a rounded bottom pulling the B-line with it and with the 'poke' or breakout bar up off the mini forks LMLP we go long. Now price moves gently up ( prior to the 'spurt') and i confirm with a mini fork in the 1 min TF and breath a sigh of relief when we reach the mini CL. Originally the stop was about as tight as a bad pair of shoes- at P3 in the mini fork 5 pips below entry at 1.4071. What's also superb is that with Reaction Lines you can see the next resistance level where price will have to play it's merry dance to break through. So you either exit at the 1.4137 level with 65 odd points of profit or with your stop now at b/e let the trade run with a trailing stop.
The trade here is not important. What is important is the use of RL's. There is only one ML showing in this chart( green) and that is from the weekly chart posted earlier. All the other RL's are from multiple forks in multiple time frames. We can see that price has already been supported by the line and price as we know is in a vigorous but slightly hysterical (oxymoron?) uptrend. The downsloping warning line (dashed red) just above the yellow trend/divergence line meets the upsloping RL. We wait-watch and then see 'Maccy-D' divergence(yellow lines) and the ribbon stochs have just bounced/curved up-not sharply but with a rounded bottom pulling the B-line with it and with the 'poke' or breakout bar up off the mini forks LMLP we go long. Now price moves gently up ( prior to the 'spurt') and i confirm with a mini fork in the 1 min TF and breath a sigh of relief when we reach the mini CL. Originally the stop was about as tight as a bad pair of shoes- at P3 in the mini fork 5 pips below entry at 1.4071. What's also superb is that with Reaction Lines you can see the next resistance level where price will have to play it's merry dance to break through. So you either exit at the 1.4137 level with 65 odd points of profit or with your stop now at b/e let the trade run with a trailing stop.
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