H1 Personal Gann Update.. I adjusted target level for my H1 Gann lines and seems like bulls could reach 1.2066 soon if 1.2020 supports.. Notice how nice 1.1955 area supported as anticipated.. Those who tried to go long there like me are probably in good hands.. Happy trading day and happy new week to all Cheers{image}
Daily S/R Levels for Tuesday to Friday Everything is up to how well 1.1915 resists.. That's all
{quote} ...you should follow your previous thought, it's going to 1.215x at least
Guys if stocks stay up MTD (currently +12% in the SPX) there will be a massive USD rebalancing (selling) at the end of the month, meaning this month could see a monster rallye like no other. Plus Treasuries are up as well so far, adding to the rebalancing pressure.
{quote} Don't you think it's coming back to that grey area? To me ATA has given another bonus
{quote} It can.. but first I am anticipating a higher gray area.. Coming soon.. because bulls have not fully tried to reach 1.2066 yet.. Eventually they will try one more time at least .. Therefore price shouldn't drop too deep.. Just my personal thinking..
+-40min breakout of the low of an over 3 days range is often negligible. Even more so when it is against an up trend that has lasted over two weeks and that has not yet lost any momentum in relation to its long duration.
In my experience, under such ranging conditions, an opportunity to buy at around the bottom of it, even if broken (a ranging market moves up and down lightly, widens and tightens, must not we forget), has more potential profitability than of selling around the bottom it. BUT it could just as well retest the 40s or drop some more....
Hi I hope everyone had a nice weekend! Here are my 2 cents : Bulls momentum has not shown any confirmed weakness, for over 2 weeks now. We are at a repeatedly tested resistance, and I will not ignore that, as it could be the last time price hits it, and falls. This level of resistance is weakened though, by the strength of this month's continuous move up. It is very possible that it has already become support. We will know shortly for sure. I cannot forget the many times such moves have broken through much more than what we have seen it do up to...
! Take care all and see you again I hope above 21 or below 20 !
