Hello All,,
Today's idea is based on a simple upper parallel reversal trade with an early warning Doji candlestick @ the upper parallel. It is also a possible completion of a nice expanding pivot 5 formation signifying a nice CIT. My bias is short however I will be open to reverse position should the run continue to a higher P5 point at my upper "Warning Line" target. The other elements supporting a possible reversal is my weekly chart showing an identical EP setup.
Please note: The downward multiple median lines have been put there assuming we get a reversal at any of the pink dots on the upper red median line parallel. The reason I have put them there is to demonstrate the pitch or "Speed" of the move should we get the Turn!
Sincerely,
TIK
Today's idea is based on a simple upper parallel reversal trade with an early warning Doji candlestick @ the upper parallel. It is also a possible completion of a nice expanding pivot 5 formation signifying a nice CIT. My bias is short however I will be open to reverse position should the run continue to a higher P5 point at my upper "Warning Line" target. The other elements supporting a possible reversal is my weekly chart showing an identical EP setup.
Please note: The downward multiple median lines have been put there assuming we get a reversal at any of the pink dots on the upper red median line parallel. The reason I have put them there is to demonstrate the pitch or "Speed" of the move should we get the Turn!
Sincerely,
TIK
