pips4life | Feb 22, 2019 1:36pm | Post# 7910 | 1 Attachment(s) Disliked {quote} Interesting how this played out. Anyone with thoughts? {image}
Your drawn forks are good, but only on M30. Best to draw multiple TF charts and keep in mind the larger timeframes also, which generally rule.
Black PF would have been obvious next higher degree (to which I've added its magenta ModSchiff, with some resonance).
A black sliding parallel (which I myself don't make substantial use of, preferring instead major PF lines) appears to have contained the recent peak.
Black could have been blue instead, using a more significant pivot pt1 (aka A) which slightly sharpens the slope, but not enough to touch the recent high.
Green is another most obvious PF here, and it resonated quite well, including containing two recent peaks from which price appears to be falling off.
You can check even higher degrees as well, on Daily and even Weekly charts.
At least these other two PF threads are good: here and here  |