DislikedI think GJ is gearing up for that big impulse move upward. Let's see if I can catch it entirely this time. GU and UJ are both at strong supports so if both bounces, GJ will flai. I will be watching for the quick dip during London for bear trap and quick reverse. That should be confirmation that the smart money are ready to take her higher. This should be another 1000+ pips move: 145 to 155+. The last impulse move was from 139 to 150.86 for 1186 pips.Ignored
look at daily .. sure we may get a 100 - 200 pip retrace , but daily and weekly very bearish.
If she breaks 140 then downward symmetry will be broken also . (1000 down off 150.5 takes us to 140.5). If this happens 135 and 130 longer terms targets. But lets not get to excited , taking one day at a time. Right now 140.60 is my target (loads of support on this level).
support clusters 143 , 141.6 and 140.5 zone on way down .
Note that we are falling under low volume. Price can fall under low volume . It just means that NO pros are interested in buying it and they are already short higher ( as we saw that distribution late last week).
Blogging daily now at www.volume.zone