Fib fan off the first move up from 1.2659 has been providing the bounce points in the wave up. See higher of the 2 green dashed lines. A test of that stands around 1.3020 at present, which is also where that T6/T7 confluence sits. As I noted yesterday, notwithstanding the wave up, T6 has recently slipped under T7 - shorter term trend is falling behind the scenes! Strong test point me thinks. The second, lower, green dashed line uses the more legitimate wave A or 1 up from 1.2659 and sits lower at present and untouched as yet. This is why I have put my limit order to close my shorts around here, just in case price darts through. If not, well good place to bank and reassess at line above.
No comments:
Post a Comment