After the false break washes out bottom pickers, sellers step back in to show their hand.
The Schiff ML set, with 'C' based on the width pivot provides a a number of confirmations and tests of the of the upper ML allowing both early, and late entries with stops set above "C".
With the 'zoom' down through the ML line, I probably could have used an aggressive trailing S/L to look for the 1st warning line, but I was in bed, so we take profit at the LML.
The frequency of the ML set is pretty spectacular, with numerous touches of frequency.
The zoom and retest on the rally up through the LML targets the upper 1st warning line if frequency is still in play, plus coming into structure. We can see how price reacts to the 1stWL.
The Schiff ML set, with 'C' based on the width pivot provides a a number of confirmations and tests of the of the upper ML allowing both early, and late entries with stops set above "C".
With the 'zoom' down through the ML line, I probably could have used an aggressive trailing S/L to look for the 1st warning line, but I was in bed, so we take profit at the LML.
The frequency of the ML set is pretty spectacular, with numerous touches of frequency.
The zoom and retest on the rally up through the LML targets the upper 1st warning line if frequency is still in play, plus coming into structure. We can see how price reacts to the 1stWL.