Nice analysis as always looks like the answer between option 1 and 3 will unravel in 1 hour
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DislikedNice analysis as always looks like the answer between option 1 and 3 will unravel in 1 hourIgnored
Disliked{quote}... For now let's take into consideration major ref: nearest one is GB week open 3351: you want acceptation below it for continuation downside.Ignored
Disliked{quote} 3338 tagged: again, acceptation below it needed for continuationIgnored
Disliked{quote} 3338 tagged: again, acceptation below it needed for continuationIgnored
DislikedAgain, good opportunity here: we saw yesterday, the last day of November, GB establishing a poor low at 3305 and Pit a poor low at 33165 (then tagged and further weakened by Sydney low). After all this we saw Tokyo rallying higher without any correction downside all night long, toward a retest of m30 yearly major timeframe.Ignored
DislikedSo in my opinion we have 3 options here: a continuation upside and a serious test and failure of higher timeframes (above 3400 ? d, w, m?) major trendline, followed by a sharp liquidation downside removing at least GB and Pit poor lows; an immediate correction downside without testing higher timeframes (above 3400 ? d, w, m?) major trendline and then a serious test of it (then option 1); a successful test of higher timeframes (above 3400 ? d, w, m?) major trendline and continuation upside (very very significant market switch against current odds) Major refs are for GB : 3397 GB Nov high 33765 GB highest close of Nov 3351 GB weekly open 3338 GB Nov close 33285 GB prev week open 3305 GB yes PL 32975 GB inside weak breakeven 32925 GB gap upside baseIgnored
DislikedAnd current situation also provided us an other very important info: with strong sellers involved this level (3316) would not have been respected. So the fact that price stopped here is a possible indication that maybe upside is not over yet. So take care of this info in any case.Ignored