Drop into stonks chat on any given day and you’ll see some pitchforks
That wasn’t the case a year ago
Monkey see monkey do is cool, but
The major mistake most of them make is not going up to the monthly timeframe
Some of them realised forks are a tool not to be underestimated… but why
Markets are functions of price action (geometry) and time
The pitchfork is the best tool at unpicking market geometry
Tim Morge RIP knew this
Dr Alan Andrews RIP utilised Newtonian physics to disinter price action
I have recently seen it said that forks are either linear and or static tools
Neither is the case
Indeed, the median line is the bisector of two pivots from the preceding pivot, just as the median of a triangle is the bisector of any given side from the apex
Whilst the fork is both linear and static by definition, it is the response of price over time against the fork(s) which is key
For noobs the most important thing to learn is monthly PA analysis- initially without forks
Here we see spx is not as bearish as the beartards would like to think
Both the primary and secondary downtrends have been broken on the monthly
I saw someone refer to the current monthly as a bearish engulfing which doesn’t tell the story
At present it looks like a retest of a breakout of the major downtrend
Moreover, it has rejected the 0.5 retrace from the ATH to the corona low; and is currently rejecting the 0.382
I’d say the current monthly is neutral but a good week here could turn it bullish
Other than that there is a clear range between 3800 and 4150 we’ve mentioned previously
I guess you either see it or you don’t …
GRI 2023
That wasn’t the case a year ago
Monkey see monkey do is cool, but
The major mistake most of them make is not going up to the monthly timeframe
Some of them realised forks are a tool not to be underestimated… but why
Markets are functions of price action (geometry) and time
The pitchfork is the best tool at unpicking market geometry
Tim Morge RIP knew this
Dr Alan Andrews RIP utilised Newtonian physics to disinter price action
I have recently seen it said that forks are either linear and or static tools
Neither is the case
Indeed, the median line is the bisector of two pivots from the preceding pivot, just as the median of a triangle is the bisector of any given side from the apex
Whilst the fork is both linear and static by definition, it is the response of price over time against the fork(s) which is key
For noobs the most important thing to learn is monthly PA analysis- initially without forks
Here we see spx is not as bearish as the beartards would like to think
Both the primary and secondary downtrends have been broken on the monthly
I saw someone refer to the current monthly as a bearish engulfing which doesn’t tell the story
At present it looks like a retest of a breakout of the major downtrend
Moreover, it has rejected the 0.5 retrace from the ATH to the corona low; and is currently rejecting the 0.382
I’d say the current monthly is neutral but a good week here could turn it bullish
Other than that there is a clear range between 3800 and 4150 we’ve mentioned previously
I guess you either see it or you don’t …
GRI 2023
코멘트:
Above is the monthly local geometry, below and in the previous idea is monthly distant geometry
코멘트:
If it walks like a retrace and quacks like a retrace…
