So right now we need more clarity and more data to determine will this market correct more up and will this level it is holding on hold and back down via where the red line is.
Personally my thesis is 3 scenarios:
Scenario 1:We hold on this pitchfork line and book it down.
Scenario 2: We correct up to the 50% Fib and more pitchfork resistance at the 218 level then head back down
Scenario 3: The market disregards all two scenarios and we punch up which then makes us revaluate our thesis's for the daily trend possibly Weekly and Monthly
Let's see what the market does tomorrow and then we update our thesis from there
What are your thoughts on this analysis ? Do you find it helpful?
MB Trader
Personally my thesis is 3 scenarios:
Scenario 1:We hold on this pitchfork line and book it down.
Scenario 2: We correct up to the 50% Fib and more pitchfork resistance at the 218 level then head back down
Scenario 3: The market disregards all two scenarios and we punch up which then makes us revaluate our thesis's for the daily trend possibly Weekly and Monthly
Let's see what the market does tomorrow and then we update our thesis from there
What are your thoughts on this analysis ? Do you find it helpful?
MB Trader
Note
it appears we are on target for the 198 area. I would not be surprised to see a correction the 209.99 level of some nature on the smaller time scale. Any questions or thoughts let me know
MB Trader
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.