Tuesday, 3 February 2015

Wheat (March 2015) Futures: Median and Reaction line and multiple pivots reveal market structure and organic support and resistance

The following charts illustrate ideally that there are multiple pitchfork relationships with multiple pivots. I have identified some below and shown you the subtly different PF's (and their Reaction lines) using these important pivots. All prove by their reaction lines to describe price fractals seen within the main fork. Note the second touch on the centre line. Also note that the true Andrew's fork using the Highest high and subsequent low and next true high (#7) result in price not touching the centre line as seen in the first chart below but yet the extreme right hand pivot which has a lower high makes a perfect fit  as pivot C.

You have more than a trading edge when a cluster of these reaction lines share the same axis and location as can be seen in the above daily charts and  5 wave move up from mid September 2014 to Decmber and then the "pique" on the blue upper median line parallel before the descent down. Thus a multiple pitchfork chart ( if constructed correctly) will reveal the matrix that price has yet to encounter and provide high probability setups. *see our new forthcoming section page under the heading : RESOURCES

No comments:

Post a Comment