G/U 60 Rejections at Median Line & Upper Parallel
This idea shows the following weakness clues;
1. Price left a gap @ larger blue median line after test & retest ( weakness clue )
2. Three rejections of smaller downward RED upper parallel
3. Test & rejection of upper grey parallel.
4. Possible completion of 5 "contracting" pivots
5. ( Not Shown ) A break & pullback "test" of a LARGE fork lower parallel price failure coinciding with P5 Pivot & Blue ML
Special Note: We are at a mini double top @ approx 161250 so it is important to note that if P5 is broken convincingly, sentiment has changed to bullish and price often comes back and touches the blue median line before continuing to the upper parallel.
Sincerely,
TIK
1. Price left a gap @ larger blue median line after test & retest ( weakness clue )
2. Three rejections of smaller downward RED upper parallel
3. Test & rejection of upper grey parallel.
4. Possible completion of 5 "contracting" pivots
5. ( Not Shown ) A break & pullback "test" of a LARGE fork lower parallel price failure coinciding with P5 Pivot & Blue ML
Special Note: We are at a mini double top @ approx 161250 so it is important to note that if P5 is broken convincingly, sentiment has changed to bullish and price often comes back and touches the blue median line before continuing to the upper parallel.
Sincerely,
TIK
