Context
- price is in a huge sideways range (see grey A/R channel)
- resistance at the A/R's high and the confluence point from the two forks
Sine Waves:
- the center of the pink SW is already broken
- the yellow one is not yet broken. The weakening of crude could make it happen.
Observation:
- price could not reach the centerline after the first resistance. This indicates that price "should" go higher then from where it came...but it did not, not yet. A further fall would indicate that pressure from the upside is increasing and price potentially will move much lower!
If the blue ray (most right) is broken, I am willing to hunt for a long term short down to 36 or lower.
P!
- price is in a huge sideways range (see grey A/R channel)
- resistance at the A/R's high and the confluence point from the two forks
Sine Waves:
- the center of the pink SW is already broken
- the yellow one is not yet broken. The weakening of crude could make it happen.
Observation:
- price could not reach the centerline after the first resistance. This indicates that price "should" go higher then from where it came...but it did not, not yet. A further fall would indicate that pressure from the upside is increasing and price potentially will move much lower!
If the blue ray (most right) is broken, I am willing to hunt for a long term short down to 36 or lower.
P!
Trade closed manually
Now I'm really courious if it will break...it would probably play out very fast to the south. But that's probably just hopium ;-)
GN.