Another breakout. Trading Fork???
Another day, another breakout on good volume for PRTS.
A member of our trading community on Slack who trades price forks helped me plot this out. Lines on the fork are a bit approximate. I was trying to chart out the escape for the main upward channel and came across this idea.
The main channel is still the Red/Green line and we touched the top today and then pulled back.
But overall its in yet ANOTHER fork which we have plotted out forks on almost all of the indicies ETFs and stock we follow in the slack group . This explains how the PA slips out of the main channel (for example on the large Bull Pennant Through June/July ) but still follows the overall trend and jumps back to the channel
Lines always are subjective and I think I need to play with these a bit still. But adding the additional big picture structure helps me plot out future trades and exits.
Feedback please.
A member of our trading community on Slack who trades price forks helped me plot this out. Lines on the fork are a bit approximate. I was trying to chart out the escape for the main upward channel and came across this idea.
The main channel is still the Red/Green line and we touched the top today and then pulled back.
But overall its in yet ANOTHER fork which we have plotted out forks on almost all of the indicies ETFs and stock we follow in the slack group . This explains how the PA slips out of the main channel (for example on the large Bull Pennant Through June/July ) but still follows the overall trend and jumps back to the channel
Lines always are subjective and I think I need to play with these a bit still. But adding the additional big picture structure helps me plot out future trades and exits.
Feedback please.
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.