Weekend Update: Reversal Close; Possible Between Oct. 7th & 9th

Be sure to keep a close eye on the White Energy in the 2-Day TF. I explain WHY in the video.

Comment:

"It's THIS 12-Day Candle in Which We Find Bottom & Begin Reversal"

20:11

Comment:

If the White Energy in the 2-Day TF ends up not making contact with the 50% level until October 9th, we may have to wait until October 11th or 12th before we see reversal to upward pressure. It basically all stems upon WHEN that White Energy hits the 50% level in the 2-Day to get a better idea of WHEN we can see a reversal to upward pressure.

Comment:

Here's a look at the 2-Day TF: The White Energy may hit the 50% level on the 2-Day Candle beginning October 8th. If this is the case, it may require one or two more 2-Day candles afterward to find bottom and see a reversal from downward to upward pressure. Which means it’s POSSIBLE the bottom with reversal is not REALIZED until the 2-Day Candle that begins October 12th.

Here’s a closer look at Godmode 3.1 Mod with LSMA in the 2-Day TF:

I've drawn lines within the indicators on the Daily (24h) chart to show the POSSIBLE future trek of the lines to indicate POSSIBLE future "PRESURE." It appears reversal to upward pressure could POSSIBLY begin on or around October 11th.

Here's a closer look of Godmode 3.1 Mod with LSMA in the Daily (24h):

Comment:

If you are wondering why I have the White Energy going below the Green 20% level horizontal line in the Daily (24h) TF, it is because the White ENERGY in the Daily clearly shows more downward pressure is to continue. Which is why I have the White Energy in the Daily falling deeper than it's current levels and NOT reversing back to the upside at the Green 20% level.

I'll have a look at the 12h TF shortly to see what it may be telling us in a shorter term.

Comment:

CORRECTION: I meant to say, "...it is because the White ENERGY in the 2-DAY TF clearly shows..."

Comment:

The White Energy is not telling us much in the 12h TF. Which forces us to use a higher time frame; such as the Daily and 2-Day; to get a feel on where the PRESSURE in the market is heading.

In the Daily (24h) I've drawn the Blue LSMA in Godmode trending down; I've drawn the Magenta RSX in Phoenix 1.391 trending down and the Green Stochastic RSI with custom inputs trending down BECAUSE OF WHAT WE SEE IN THE DAILY AND THE 2-DAY TIME FRAMES.

Comment:

I'm seeing this more like a descending wedge with a price target along the lower boundary of the descending wedge at approximately $7,388.29 or higher. If we were to bust below $7,388.29, I'm leaning more towards $6,996.70 as the bottom.

Comment:

I still need to re-emphasize; even though we may go lower, I'm still anticipating a 4-Day candle that wicks down to the target range of $7,388.29 to $6,996.70 to CLOSE at least above the Green 110-EMA in the 4-Day TF. Remember, we are IN THE PROCESS of setting a new PRECEDENT to determine whether or not we continue in a bull market or revert into a bear market. Of course, this new PRECEDENT we are trying to establish all stems upon whether we continue with the long term bull trend when looking at the Monthly time frame.

Comment:

12h TF: