Remember 1.2 is a monster level. Should a price surging north drip towards a monster level? Obviously, we'll have our answer when price goes to 1.2 but currently (as fair as I'm concerned) price is telegraphing: "Too much Turkey, wine and sex at Christmas; I'm tired!" The conviction to zoom through a major level is taken long before the price reaches its destination, price isn't displaying zoom behaviour. Put a gun to my head and ask...what is going on, I'd reply...I am not sure but if forced to give an answer I'd write BULL TRAP. But who knows?
Break out buy stops (not mine...late entrants) triggered...wait
Stops on longs at 1979...wait.
100 wave extension touched confluenced with Pitchfork warning line correction...inside parallel line...wait.
85% probability of next week's close being less than 2085...wait.
Break out buy stops (not mine...late entrants) triggered...wait
Stops on longs at 1979...wait.
100 wave extension touched confluenced with Pitchfork warning line correction...inside parallel line...wait.
85% probability of next week's close being less than 2085...wait.