Disliked{quote} I'll just use the daily chart to provide an answer. Ican't see the origin of your ML but I think my chart got it. You've drawn a modified schiff ML. I've labeled the pivots because this does ground the chart very well. give this is a modified schiff then the upper parallel becomes essentially the same as the center ML of a standard ML. Once it reaches this as it essentially does as shown by D1 then the ML is considered completed. If one continues to use the ML then it essentially becomes a channel and IMHO it becomes more difficult to apply...Ignored
It does help, Thanks. What's your take on warning lines? To me I haven't seen much edge in them because you never know which one it's most likely to pivot at, blows through some, pivots at another. Andrews didn't really provide any insight as to how this benefits trading. If it does pivot then there is no clear profit target other than maybe the next closest warning line. I have seen some success in waiting for a WL to hold, and then a new ML to form on a lower time frame from that point, and trading that.