Hi Alexandra,
Okay, now I understand your definition of a forced fork. I find a "What-If" fork helpful, IF I SEE THAT THE MARKET MAY BE TURNING. If that fork shows support for example, but it does not hold, it in essence is confirming the continuation of the current price move downward. I certainly do not use it for a set-up to trade if there is no confirmation. By the way, Shane uses these "What-If" forks now and then just to see.
I understand that you were trading the pullback when price reached the ML. The PO/P5 count ending at an ML would be a place to look for a trade for sure. I saw some lines on your swings that I thought were for Harmonic Patterns. Maybe you were drawing in your lines of force.
Thanks for sharing your insights and your charts.
Take care and have a good Summer trading.
FX4Newbies
Not sure what *gg and *g are supposed to mean.
Okay, now I understand your definition of a forced fork. I find a "What-If" fork helpful, IF I SEE THAT THE MARKET MAY BE TURNING. If that fork shows support for example, but it does not hold, it in essence is confirming the continuation of the current price move downward. I certainly do not use it for a set-up to trade if there is no confirmation. By the way, Shane uses these "What-If" forks now and then just to see.
I understand that you were trading the pullback when price reached the ML. The PO/P5 count ending at an ML would be a place to look for a trade for sure. I saw some lines on your swings that I thought were for Harmonic Patterns. Maybe you were drawing in your lines of force.
Thanks for sharing your insights and your charts.
Take care and have a good Summer trading.
FX4Newbies
Not sure what *gg and *g are supposed to mean.
Dislikedhello fx4newbies,
a forced fork is drawn by pivots which a not confirmed yet.
a what if fork is maybe the same but never used for a setup. it is not tested yet.
both trades on the h1 were countertrend trades according to the daily chart BUT as written price hit the ml on the daily, and the basic rules of andrews or morge say be careful and look and second the p0-p5 counting on the daily gave another setup. ( no i don not look for gartley and butterfly pattern).
sorry if the chart was confusing...both trades were based on the simple rule: when...Ignored