Click on the chart to enlarge it.
In this weekly chart we notice that at precisely the same time that the two-week chart is generating a ZeroHit (May 14th), a similar ZeroHit setup is occurring here.
Note also that the NMM ROC has produced another Slingshot formation by exceeding its upper boundary, implying that the move should break down hard once it starts. It looks like a great trade opportunity is unfolding!
Note the ZeroHit in March labeled ZeroHit 3/19. It could have offered us a trade entry based on the two-month ZeroHit that had a delayed entry, but since the two-week signal was non-existent, a better solution was to wait on multiple timeframes to line up.
What do we do if the multiple timeframes don't line up? Well, if we want the greatest possible profit potential for the lowest possible risk, we temporarily stand aside!
Let's keep dialing down to see what else this market might have to offer us:
(This is the end of Part 5. Go to Part 6.)
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