DislikedDaily cable chart, with live-valid pitchfork, similar to eurodollar.
next post will have 4 hr chart this morning, showing what was unfoldingIgnored
This morning, after seeing the up move in the asian session, decide to draw small pitchfork in red. interestingly, during the european session it breaks through the median line, and pulls back to it, respecting the new support. after that, the rest is history.
Break of upper red line targets median line of live pitchfork. target is not met, but there is something there (green line) that is rejecting the up move. (green line appears to be a longer term pitchfork forming, will post chart later).
Anyway, lesson is interesting. you can get smaller pitchforks such as the red one, that interestingly ends up being paralell (or almost parallel) to live pitchforkbut and can also be used to produce setups and trade it back to the median line (not to the pip in this case). Still trying to put in words what this learning is, but well.
next chart will post longer term pitchfork forming on cable (todays high is only a test, and apparently is being rejected by new and forming pitchfork)
With a break always expect a pullback, otherwise, you're dead meat/