Thursday, 12 December 2013

The emini S&P plus the VIX and the high probability trades from horizontal median lines and reaction line combo setups

Remember this green horizontal pitchfork from previous posts in recent days? If you read my coursework and my own advances in reaction line & pitchfork theory you will know that my own study and observations reveal that horizontal PF's have a 45% greater probability of pivot formation/creation at their centre lines than normal Andrews PF's that can be highly unreliable when used alone. This doesn't mean to say that we are seeing a bottom here but you can say with alarmingly high probability that you will see a bounce of some degree or other.
Expect a second touch on this green CL now and possibly a penetration.
Here below are the same charts as in the previous post. Remember all reaction lines here are drawn by auto indicator and even tho i may manually thicken them they are not arbitrary trend lines or multi pivot lines

 Below FNL forks reveal the line of first resistance ( reaction lines) using the end of the first impulse wave  in the VIX and also show a classic Andrews PF in black
 using two different pivots

Close up

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