This analysis is premature as there is no clear pattern forming in the consolidation just yet, but Money Man felt compelled to put it out as the market is a bit dilly and could move without getting to some sensibility. The most likely scenario is for the market to keep consolidating into a discernible pattern, break it (getting everybody all excited) but then simply, still within the range, forming a bigger pattern. Money Man will keep an eye out and update when he sees things coming to rest at a deciding shape. There is not much to say, but that the targets, especially the green ones, are formulated on less data than normal as we are moving into dilly territory.
Conclusion: Hold out for a pattern to form but calculate for a breakout simply because things are dilly. Calculate what you are prepared to put up with. Not only one or two sums on the calculator but many. Present all the different results to yourself and see what you are comfortable with. Very important to me: Please leave a like if you appreciate the effort, please comment to develop this further (this one really needs development) and please follow if you think this analysis thread is leading somewhere you would like to know about.
Conclusion: Hold out for a pattern to form but calculate for a breakout simply because things are dilly. Calculate what you are prepared to put up with. Not only one or two sums on the calculator but many. Present all the different results to yourself and see what you are comfortable with. Very important to me: Please leave a like if you appreciate the effort, please comment to develop this further (this one really needs development) and please follow if you think this analysis thread is leading somewhere you would like to know about.
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