It is a beautiful thing - During news price hit the SP - Blue Line and made a new high.
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DislikedYes it is a beautiful thing Wave Trader...hope the mini Market Structure explanation helped.
FX4Newbies
P.S. Another busy day for me.Ignored
DislikedYours was right on - But I was hoping JUSTCATALIN would respond - I have not seen him on this forum.Ignored
Dislikedpikeliver,
forks are just a tool..nothing more. and you should use them in context with other things.
market structure should tell you if momemtum of price is up or down.
if you know this, you can use forks in this context.
your first chart with the down fork was correct too. there have been pivots and you have drawn a fork. but price never reached the medianline so you have seen the hagopian rule in play....just context.
seldom there is a correct fork, but if you see the context you can interpret every fork.
good luck alexandraIgnored
DislikedHere we go...
Remember the definition of an uptrend...higher highs AND lower lows. Notice how price is making higher highs and higher lows.
L1 is not an official swing low until price takes out the high at H0 by reaching to H1. Price then pulls back, which is normal price action. Notice it doesn't go as low as L1. Price then goes beyond H1, making L2 an official swing low.
Spend some time observing this action. Of course the reverse is true if price is making lower highs and lower lows.
Hope that helps.
FX4Newbies
EDIT:...Ignored
DislikedHello again,
US holiday today. Here is my recent chart. Included a local, red fork to see where price is in the scheme of things.
Would like price to go to green U-MLH, however, it just made a lower low but not by much. If you are going to trade, be patient and let the market spell out which way it is going to go.
Take care,
FX4NewbiesIgnored