Geopolitics suggests a temporary halt to the war in Iran.
Is it true?
We can't count on this "news".
Let's rely on our pitchforks/median lines:
Price is nagging at the orange L-MLH multiple times now.
The last tiny support is the red dotted line - the Sliding-Parallel.
This is the door to lower prices. If "Elvis" walks through that door, we will probably see a waterfall of stop-runs and more shorts piling in.
My first target is the 50% line of the whole projected move.
Then the warning line.
And by the way: The WL1 builds a compelling confluence with the GAP from March for a target.
Let's see if Elvis plays a smooth love song, lifting crude prices to new highs, or if he slaps his guitar like a real rock 'n' roller from the good old days and sends prices roaring down to our target levels.
Best
Emilio
Is it true?
We can't count on this "news".
Let's rely on our pitchforks/median lines:
Price is nagging at the orange L-MLH multiple times now.
The last tiny support is the red dotted line - the Sliding-Parallel.
This is the door to lower prices. If "Elvis" walks through that door, we will probably see a waterfall of stop-runs and more shorts piling in.
My first target is the 50% line of the whole projected move.
Then the warning line.
And by the way: The WL1 builds a compelling confluence with the GAP from March for a target.
Let's see if Elvis plays a smooth love song, lifting crude prices to new highs, or if he slaps his guitar like a real rock 'n' roller from the good old days and sends prices roaring down to our target levels.
Best
Emilio
🔱 How To Follow The Fork 🔱
Avoid subjectivity and embrace rule-based trading
👉 Free Newsletter on Substack: alphametrics.substack.com/
👉 Join free Mini-Lessons: Homepage: howtochart.com
Avoid subjectivity and embrace rule-based trading
👉 Free Newsletter on Substack: alphametrics.substack.com/
👉 Join free Mini-Lessons: Homepage: howtochart.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔱 How To Follow The Fork 🔱
Avoid subjectivity and embrace rule-based trading
👉 Free Newsletter on Substack: alphametrics.substack.com/
👉 Join free Mini-Lessons: Homepage: howtochart.com
Avoid subjectivity and embrace rule-based trading
👉 Free Newsletter on Substack: alphametrics.substack.com/
👉 Join free Mini-Lessons: Homepage: howtochart.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.