Wednesday, 9 January 2013

ES H12... Will it, won't it? it my eyes or is there an inverted h&S pattern in the 30 min TF? Plus Gold update (15.30 GMT)

 Here's ES H12 on the opening and bang on our d/sloping RL..will it make it up thru this line?

and another view /reaction line template showing support

Heres a beautiful little fork which is in play this afternoon BUT i don't expect too much from it except a small retracement. ....
 I think we all agree that this fork simply expresses three significant recent pivots.If that is the case then why are we not drawring these espressions the relationship and current frequency of price? Why would you use one fork all alone? What about the significance of these pivots shown below and marked with a '?'
These are just for starters and there would be more depending on your time frame, so how can we best express and illustrate the relationship of price withoutdrawing endless forks? Answer: find the controlling swing. the 'seed'
Here's the result. A matrix of reaction lines (reaction and warning lines as per Andrews but i refer to them generically as reaction lines) which mostly eminate from one single 'FNL' or 'Andrews' fork drawn off the most recent controlling swing. This fork of course will have to change as price weaves it's merry dancebut if you get it right the results can be amazing. If you want to know how I ID this and other 'controlling swings' and what different forks I use to caputre price then take a free trial-no strings- no hype- no money and get just facts and examples you can see working for yourself every day. Then follow my trades which are transparently published.

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