Whilst I am waiting for EURUSD to get back to somewhere higher, the Dow is poised right on the Regression Channel LTL of the move up from the last low, with sufficient power in the 60min momentum study (blue - sub chart) to follow through. The first target for our now red 3.5day trend line is its 50% brother, the 1.75d.FLD. As that is under the Daily Pivot and the 3.5day FLD is right at the same place, there is just more than a chance that price will canon through this lot. If it does make it through the 3.5day FLD, the next one in line is the 7day FLD. Where does that sit? Right at the 85.4% fib fan of the whole move up and right on the neckline of the afore-posted H&S as well as the 56day FLD. This latter one is key as price might be failing just under the 28 day FLD (or may do so in due course if price goes up again) and if the 28day fails, the 56day may be the target - at least initially. One step at a time of course!!
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