According to Gann's Box, his style of forcasting and analysis, the short idea from 09/13/17 continues.
The 22nd of September is a date that was important to Gann and has, historically, shown it to be a time where trends have significant turns of rejection or continuation. The highest risk/reward scenario remains keeping the short position open and adding to a break below the close of last week. There could be some violent swings to the downside and large amounts of whipsaws. Each of the support levels that are drawn (green lines) represent important Gann levels that need to be broken. However, due to the continued bullish sentiment of the US market and the EURUSD pair, we could see lots of responsive buying that could ultimately be the cause of some big whipsaws. So on any breaks of these levels, I would only look to add to shorts with a .5 or greater retracement.
However, this has been a strong uptrend and that is very important. We could only experience a pullback or continuation of this uptrend.
The 22nd of September is a date that was important to Gann and has, historically, shown it to be a time where trends have significant turns of rejection or continuation. The highest risk/reward scenario remains keeping the short position open and adding to a break below the close of last week. There could be some violent swings to the downside and large amounts of whipsaws. Each of the support levels that are drawn (green lines) represent important Gann levels that need to be broken. However, due to the continued bullish sentiment of the US market and the EURUSD pair, we could see lots of responsive buying that could ultimately be the cause of some big whipsaws. So on any breaks of these levels, I would only look to add to shorts with a .5 or greater retracement.
However, this has been a strong uptrend and that is very important. We could only experience a pullback or continuation of this uptrend.
