So just for curiosity sake again I drew the 6B zone on my GU spot chart. I got to tell you, looks like it's starting to base up. Could this be heading up now for the zone.....{image}
Hey joe, first of all, I just saw your first post adn was about to respond to it.. The zones def have nothing to do with traditional S/R, FIBS, pivots, ect... the reason they work though is because they are in key areas that BIG MONEY sees and feels that the price is good to take a position one way or another.
To respond to your second post, I dont know what it will do... There are days where the markets moves away from the zone and never retests it... I dont know if today will be one of those days. I will tell you that the zones are magnets so if it does pull back to the zone later in the day (witin normal trading hours) see what the market context is and if there is a short opportunity. It has run down pretty far, so unless there is news later ( I havent checked yet), it probably wont make it back up there today... Old zones do come in to play as well in later days, so draw an extended line if it doesnt come back and test it, and it might test it down the road.
