Good morning traders and welcome to the GER30 TECHNICAL ANALYSIS. This morning in the Morning Briefing video we were discussing forks, median lines and swings again.
This image on the left shows how price reacts to each individual phase of Alan Andrews rules regarding pitchforks.
See how the price zooms through the ML before turning back to test the ML from the other side. Once it tested the ML on the otherside, it headed straight for the UMLH. This happens frequently and we spend a lot of time studying the work of Roger Babson and Alan Andrews here in the premium channels.
Click the image to see a larger version.
GER30 TECHNICAL ANALYSIS – Major Swings
The 20-minute chart below is showing how a very simple and clean fork is all you need to forecast where price will be heading.
We drew the black fork from three consecutive major pivots. The resulting fork shows how price peels away from the LMLH on the way up to the ML. The next decision now will be when to draw the new fork from the next three major pivots. See the video below for more details.
GER30 TECHNICAL ANALYSIS 18-05-2018 Morning Briefing Video
18-05-2018 Dax Technical Analysis – Minor Swings
The chart below is a 4-minute chart Dax30.
The chart is showing the minor swings highlighted by the blue swing markers. Once you have these minor swings marked out, you can draw pitchforks from any three of these consecutive alternating pivots. I recommend that you do that as an exercise to see how Price responds to the median lines.
The chart is currently showing how we are about to test the minor trend-defining level of 13,072.
The second minor swing back is at 13,027.
Price is currently sitting on the median line of this minor fork.
18-05-2018 Dax Trading Signals Update
As for signal performance yesterday the BBRSI opened nine trades, all of which were sells, spread across all six major indices. Some poor results some very good results. Overall profit was made, and a very poor start was recovered. See the details below.
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