Cycle Trading

[JLS]

Forks update.

Virtually same forks posted earlier except from my charting program (instead of SC) and containing a little more detail.

Circ_1 marks a level I thought couldn't be exceeded yet. At this time, likely the same for Circ_2, but that's where I think price is headed during the next few days. Price could easily trade downward to the lower green tine in the process of getting there.

Could price break higher from Circ_2? I doubt it (in which case the green fork is history) but it's possible. I think it's more likely that price trends downward to the bottom of the horizontal channel defined by the yellow lines, and that would test the center red fork tine.

If things happen in that manner, the green fork is toast and should be redrawn, or drawn on an intraday chart using much smaller time intervals, or just go away as horizontal channels tend to be more pertinent and are always easy to draw.