hi suri, i just doubled the two old forks. i have done that because price has respected them. of course it is also a form of channeling but mostly it works. i guess if price gets above the confluence it is likely we will see the next fib level. at least i do not see any relevant bear setup... thanks karla
not that this thread will die *gg here an update for the weekly chart. suris long term target from the h-s formation should be still active. but we have some more room for teh retracement on my chart. weekly and daily show 107-107,5 where sup come in. on the weekly chart the mod fork is still the dominant one, i put in a dwn fork but this one is not tested yet. we have not seen any abc pattern on the daily for a down move but i guess suri will give an update if there is a pattern *g good luck all karla
Hi Karla, Thanks for your post. Very interesting chart and great use of Pitchfork. I had a similar retracement/support target 107.7 to 108.34 (Green Color High Lighted). I have plotted Longer-Term ABC (Red and Black) and Medium term ABC Bullish patterns (Magenta and Blue) for a Price Cluster for the above support. I still think the H&S target is valid. The Trend is still strong. Happy Holidays!!! Regards, Suri
hi suri, yes i have this cluster too on the daily chart. old up fork, we have followed in the last posts, new modf down fork ( ml already touched) and ma50...and of course your fib clusters and time zone. no setup for long or short at the moment but i guess an area to watch shortly..at least i will do *g thanks for your update. karla
hi suri, yes i also guess that the ABC is in progress to develop but i for myself need some more confirmation for an entry. i have not seen a lower low or any other chart pattern (break of the bear flag)or a break of the sliding parallel or a break or the regression channel. so i can wait another day *g. target would be the ml of the white fork even if this one is not tested yet and very steep. but the ml correspond with your fib lines. looks better on your chart and i do not have to messy up my chart *g good luck karla