Many weeks ago, I freshly published this chart. I wanted to make a longterm project out of it.
The idea behind this chart is, to show you LIVE how pure Action/Reaction works - and that it's not a mystery, fake or something "balloonie".
Here you have 5! reactions in a relative short period of time. Let's go through them right now:
1 Overshoot and fall back to...
2 ...last magenta A/R line, which provided support.
3 Price drops from prior support down to the next line, but creating, what we at ForkTrading call a confirmed "Hagopian" (you learn about this in my free ForkTrading BLUEPRINT).
4 From 3 price moves up and reacts even three times at the magenta A/R line, bouncing it's head on it, before moving up to the magenta A/R line, just to find resistance and...
5. drops back to the magenta A/R line again where it finds support.
What do you say now?
On my website you find a free subscription to start learning the Basics of ForkTrading, which stems directly from Action/Reaction, but offers much more room for trading then just plain Action/Reaction.
I appreciate you thumb up and would love to have you on board in our ForkTrading Group soon.
P!
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Sooooo...here we are. What do you think where price will hit next? ;-)
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Here we have a follow up on the A/R model. Note how price bumped it's head...next stop will be the white A/R line.