The up-sloping Action/Reaction lines (orange) gives us some framing around the craziness.
The Red pitchfork catches the extremes and important turning points
For now we have Swing P3 and P4, now there is missing P5. What does that mean? It means I see another flush to the downside. Yesterdays weakness is another indication for it.
For now, I stay out of this market, since everything is in a bunching mess. If anything, I buy puts to profit on a potential downside and limit the risk.
The Red pitchfork catches the extremes and important turning points
For now we have Swing P3 and P4, now there is missing P5. What does that mean? It means I see another flush to the downside. Yesterdays weakness is another indication for it.
For now, I stay out of this market, since everything is in a bunching mess. If anything, I buy puts to profit on a potential downside and limit the risk.