Above seen 5 min time frame. The pitch fork (AKA Median Line) shows the relationship between 3 pivots A,B&C. Price has made its journey to the centre line.
Above is the same ML in the NASDAQ
above: Back in the ESU20 look at the price action when it meets the line. Gap up,touch and fall away. Same behaviour can be observed 100's of times a day with hundreds of different sets of 3 pivots in multiple time frames.
above: Here is the emini Dow. Look at the rejection after the touch/ kiss on the centre line.
above: Here it is in lower time frame.
Above: Now we look at the bigger picture and multiple ML's.Note price has failed to reach the CL of the bigger ML: A/B/C. We are looking for short entries but nothing clear yet.
and here is the daily Dow. We really need a long candle to fall away from this upper M line. If it continues to hug the line it may burst/press through and up towards closing the gap. Noted on chart.
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