Plase post any fork trades you have in progress or ones your watching. Might make the thread more interesting. Thanks
Hombre here is the spy tick charts I talked about. I think you could find something similar to the es.
this next fork is off 2min charts, and you should notice is looks quite different. Here the red median line hasnt been tested like it was off the 512 ticks, and the green lower fork line hadn't been tested, but here off the 2min, price is actually below the green fork. lets add some modified forks, and see how this changes the picture...
I deleted the red fork because its lines were the same. But the schiff fork here shows the bounces off the median line two times.
CSIQ one of the stocks I really want to buy and hold for the year, and here its showing a nice retracement, and test of lower fork line. ATR says this can move 7.1pts a month (78.1 pts in 11 months). This stock has strength for sure. Price is trading with two forks. The blue and the light pink, the more aggressive fork. So I must ask myself "Do I think price will continue to move up quickly, or has the move cooled off, and possibly retrace down to about 24 (area of the blue median line) I'll risk 1%, and put a buy stop just above todays high...lets see what happens.
CAAS, another one of my favorites for this year. Again like csiq we have two forks in play, and a fib retracement. The blue modified fork shows price testing its median line, while on the black fork, price is at its lower fork line...both support. We call this an "Energy point" When price hits two intersecting points of s/r. Also we're at the 38.2 fib line...another support level. I got buy stops at .01 above todays high.