Thats only if the 2 breaks off the top red line are authentic breaks, but again the upward motion along the median white line is failing quite hard. I would suspect that your model will be correct, if the upward motion would have sustained above the median white line that you have drawn.
However the weekly time frame as mentioned in the following post:
suggests that its not easy to go past the 3500 level quite fast.
If 3420 was being reached early this week, and sustained itself I could have seen 3600 being reached, but no more after 3600, until a stronger bounce on the weekly chart occurs from a lower high close to 2600 or from a lower low around 2300.
At least about 70% of the time there is more than one way to draw these circles. Depending on which time frame you choose to draw the circle, the size of the circle is determined by the number of points that can lie on the circle. As long as most of the circles convey the same message, then that is all you are looking for. You should check fib levels along with your drawings too.
One phenomenon that I have seen is that at times many circles have their center starting from the same zone along the boundaries of another circle, just as I have described in the following post:
If you can find such areas within a chart, then the right diameter will reveal itself to be only within a very close margin of drawing, but its more a method that you need to practice drawing them a lot, and at times that they dont tell you much, which is a strong indication that you should stay out of the market.
The only reason I was emphasizing that sell region, was because of the fact that it had reached the limits of the circle upwards, then I thought we will have to wait another day or so according to the time limits, and see a spike upwards, but as the most important trading hours (ie 9-11 am EST) were approaching I saw signs on the smaller time frames for divergence in the RSI. I never pay that much attention to these signs if they arent in those hours.
Then I thought that the 5 day limit for time must be the one, and some kind of a turn around will occur today.
That was the only reason that I put the posts for a sell in that region.
If your timing is good, and you look at the indicators, and trendlines when time makes some sort of a sense, which means it either forms a fib ratio relative to the other times, or its a summation of the previous ones exists,
Then
Even in choppy markets you can start to see things giving clues from the smallest time frame onwards.
The only reason I was emphasizing that sell region, was because of the fact that it had reached the limits of the circle upwards, then I thought we will have to wait another day or so according to the time limits, and see a spike upwards, but as the most important trading hours (ie 9-11 am EST) were approaching I saw signs on the smaller time frames for divergence in the RSI. I never pay that much attention to these signs if they arent in those hours.
Then I thought that the 5 day limit for time must be the one, and some kind of a turn...
Ignored
I been waiting 1.32 for while it make me tense keep ranging all day@3150
so to not lose the chance and not lose my money i divided my position
first entry 1.3140 and if go 32 will take another one if not i will get ++ even if it not much but ok
Yes i think there will b spike but we need to see it very soon , we will see
Taking the point of the drop as the place where a trend starts, a new version of the time limits is shown, which again points to a drop happening som time soon
Taking the point of the drop as the place where a trend starts, a new version of the time limits is shown, which again points to a drop happening som time soon
Ignored
Today close will b very important
c u@ Asia session
