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Most of these tools try to predict. I do use some of them like Market Profile, a bit of Pitchfork, sometimes a Fibonacci projection (but not as often as i used to do), the outer bands of a Keltner channel. Conventional levels of support/resistance, diagonal or median lines, Dow theory, action/reaction lines etc. I always try to have an open mind about these approach knowing each has its strength and weakness, that's it.
Even the desert draw its own lines, what's wrong with that ? :new:
Here are some examples:
Update:
Update3:
Update 4:
update at 10:35 EDT:
Update at 11:00 EDT:
Update at 11:30 EDT:
update at 14:50 EDT:
End of session:
ES at 9:55:
Update end of session:
Today's fork-casts ;-)
Last update for the ES:
Today's forecasts on the ES:
A star is born :
*************
ES - Overnight price action:
On this chart we can see yesterday's VALUE AREA HIGH but looking at price action right at this spot (magenta dotted line) we can anticipate a break but where could price go if it breaks this resistance ? That's where Pitchfork can be usefull even more so than Fibonacci in my opinion.
Edit at 10:35 EDT:
14:55 EDT on the ES:
Nothing to the left, what's left ? Pitchfork of course.
Some targets before regular session:
Price action was symmetrical today on the ES:
Some targets this morning on the ES:
I'm no expert either!! Just trying to learn as I go along.
You are right. Price has gone through the upper median line parallel. So I added the upper warning line to give some reference as to where price might go since there doesn't seem to be a hint of it turning around yet. Isn't this somewhat similar to making a reference target with fib projections?
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