Recap: The failure on the previous analysis against the trendline has brought price solidly into Red Target 1. Decision 1, playing a couple of recent analyses, has proven itself stubborn and that caused its placement to stay in the same neighbourhood. Price have noted some minor resistances between here and there and if the weekend plays out as it should, price will not break Decision 1 without some real action following it.
Money Man is expecting the same type of action on a break of Decision 2, but as always, price will have to first prove him right and volume will be a big part of it. We are verging on leaving our well-established long term trendlines behind.
Conclusion: Red and Green Targets 3 look very delightful, but in these types of situations, we rarely see them reached without some sort of shuddering in between, so the logical first rests will be especially important to prove follow through, as would volume. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
Money Man is expecting the same type of action on a break of Decision 2, but as always, price will have to first prove him right and volume will be a big part of it. We are verging on leaving our well-established long term trendlines behind.
Conclusion: Red and Green Targets 3 look very delightful, but in these types of situations, we rarely see them reached without some sort of shuddering in between, so the logical first rests will be especially important to prove follow through, as would volume. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
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