Today I have an interesting idea discussing how the the Sliding Parallel can be used as both a tradeable device as well as a n early warning device if it's been breached - also tradeable see break & test on 1st Upward Fork ). I also took a trade on the 4th retest of the downward fork 4th retest of the Sliding Parallel.....I love these things!
I have also included Targets when price failure confirms & I also show "When" I confirmed it:)
Sincerely TIK
PS: I urge anyone looking at this idea to draw up the same forks on their charts and convert them to Modified Schiff ML's and see how and where they meet at the ML and get rejected. A good exercise in Forks.
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justforex
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Nice Post! I took some heat late last week. Lost almost 5% of my capital, after starting out the week so well! Frustrating. Will be watching and waiting this week.
Timing_is_key
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Thanks, The Euro will do that to you in this choppy 50 PIP ADR, The last push up almost doubled the ADR! let's see if it continues!
Timing_is_key
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We had a nice break ( Bottom right circle ) of the sliding parallel just like the top fork which demonstrates underlying strength & a change to Bullish sentiment . The fact that the market missed the test on the backside of the sliding parallel tells me their was a mountain of retail buy orders above recent high's activated. I expect another correction and retest at least to the backside of the sliding parallel ( and possibly as far back as the major low ) before a strong move to the upside. Let's see how it unfolds next week:)
Timing_is_key
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We had the my predicted test (overshoot ) of the downward sloping Sliding Parallel and a good rejection......We are now coming into a retest of the same parallel and the 4th Test at the LOW's! Expecting a strong reversal to the upside:)