SMH - What if this Medianline-Set holds evidence?

7 Jan

The upward momentum changed when price closed and opened below the white L-MLH.

The rules say, that when price is leaving the Fork, open and close outside, we can expect a test/retest at the L-MLH.

This is exactly what happened.
Shorts got squeezed by a GAPer of the Market Makers move. And I admit, I could imagine a further rise for a third test at the L-MLH.

However, SMH is being observed very closely from now on.

13 Jan

Dagangan aktif

Since last week, price is heading to the south as projected.

If it cracks the slanted support (grey), we may see a fast selloff.
I personally expect a pullback to it, which would be nice for an add, and for others not already in the trade, a gift from the trading God ;-)

20 Jan

Nota

High close for the week, but sudo-Fork seems to hold price down.

26 Jan

Nota

With price advancing up against the L-MLH, we have to be mindful what we do next.
Last weeks Candle shows a weak close:



Further weakness = Hold on to the trade
Higher levels = Hedge or close

I'm personally willing to hold on to the trade. If price cracks a MLH which it did in Nov. 24, then we have to expect a pullback to it. So, I would rather hedge the position than close it.